Stephenson continues downward trend in 2017/18 financials
Stephenson Harwood has released disappointing 2017/18 financials, unfortunately becoming the first firm this year to report a drop in property per equity partner (PEP).
While the firm’s revenue continued to decently increase by 6% from £178m to £189m, its PEP fell by the same 6% figure from £708,000 to £664,000. The figures continue the downward trend set in place in 2016/17 when the firm’s revenue grew by 11%, but PEP fell by 8.5%.
Nonetheless, CEO Sharon White maintains that the firm is “ahead of budget,” positing that “striking a balance between profitability” is what is best for the firm in the long term.