Taylor Wessing LLP accounts show all around decreases
Taylor Wessing’s highest earning member experienced a dip in remuneration, profit, and management pay.
Even as the firm’s accounts for the year to 30 April 2017 showed a 2% increase in turnover, reaching £129.3m, there was a $3m decrease in profit available for division between LLP members, falling from $49.9m to $46.9m. In the same period, the highest-paid member’s awarded sum slipped by 11% to £1,039,000 as key management personnel pay sank to $5.8m from $6.1m.
Staff costs increased from $44.3m to £45.9m, aiding an overall 6% increase in costs to £81.6m during the period. Fee earners increased from 288 to 292, while the member count rose from 100 to 102. The firm’s cash position saw a significant dip to £12.3m, or 36%.