Oslwang PEPs up 38 per cent, despite of modest growth

June 3, 2010 Olswang has posted a small increase in turnover for this financial year, up 2 per cent from £89.2m to £91m. Meanwhile the average profit per equity partner has jumped 38 per cent to £420,000.

The firm’s chief executive David Stewart said “We haven’t achieved this result by deequitisations or restructuring the equity but by all our people working extremely hard,” said Stewart. “There’s been some staff reduction, but we did our redundancies at an early stage and booked the cost in the prior year. We’ve also taken a draconian line on discretionary spend.”

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