Ashurst withholds profit distributions

For the second time this year, Ashurst will not be paying out its quarterly profit distribution to partners. The news comes after Ashurst revealed a 19% drop in profit per equity partner, which stands at £603,000, down from £747,000 in 2015/16. Although distributions were halted in February and August, Ashurst expects to be on track for stronger performance in the coming financial year. The firm has historically taken a conservative approach to profit distributions, opting to withhold payments in times of financial uncertainty. King & Wood Mallesons also skipped its expected profit distribution last month.

Ashurst withholds profit distributions legalbusiness.co.uk Fri, Aug 19, 2016