BLP reports 32% drop in profits for 2012-13
Berwin Leighton Paisner has reported a 32 per cent fall in profits for the 2012-13 financial year, losing £25.8 million on last year’s figures to just £55.2 million. Revenue fell by 5.7% to £231.9 million, down from £245.85 million last year.
Financial reports also reveal that profit per equity partner has plummeted 40% in the last financial year, and now stands at an average of £401,000.
Meanwhile, the firm's net debt rose to £34.6 million, up 134% on last year's figure of £14.8 million, and the firm’s members made capital contributions of £5.6m, down from £6.25m in 2012. The average number of members grew to 212 during 2012-13, up from 190 in 2011-12.