Travers Smith PEP falls after one year above the £1m mark
Travers Smith has posted its latest financial results, reporting a drop in profit per equity partner (PEP) for 2016/17 compared to the previous year. The firm’s PEP surpassed the £1m mark for the first time last year, and fell to £970,000 this year.
The firm posted an increase in turnover, which rose by 4 per cent from £120m to £125m.
According to managing partner David Patient, this year’s financial results reflected the challenges posed by Brexit for law firms and clients.