Berrymans Lace Mawer has announced its 2011-12 financial results, with turnover climbing by 3% against a 15% drop in profits per equity partner (PEP).

The insurance firm saw revenues rise from £78.8m in 2010-11 to £81.2m this year, while PEP fell from £293,000 in 2010-11 to £248,000 for the last financial year.