McDermott reports turnover increase and PEP decrease
McDermott Will & Emery has released its financial results for 2016, showing an rise in turnover, which increased by 2.3 per cent to £22.9m for the year. Net profit rose 2 per cent from £9.6m to £9.8m.
Meanwhile, average profit per equity partner (PEP) fell by 9 per cent from £383,000 in 2015 to £348,000. The London location reported billings of £7.75m, an increase over the previous year’s figure of £7.2m. London managing partner Andrew Vergunst said the office has expanded its key practice areas, as well as developed new practice areas.