UK firm Bevan Brittan sees 9% drop in revenue, 7% increase in PEP
Bevan Brittan has seen its revenue drop by 9 per cent from £37.7m to £34.3m in the last year, while firm profits increased to 23.5%, giving the firm net profit of £8.2m. Profits per equity partner increased by 7% to £303,000.
Chief executive Andrew Manning said: "As a leading public services law firm, 2010-11 has been challenging for us, with the change in Government and the steps to reduce the budget deficit through the Comprehensive Spending Review, leading to a series of policy changes and/or delays in decision making that impacted core areas of work - the changes to the Building Schools for the Future programme being a prime example.
"This, coupled with tough economic conditions in general, and the run off of our decision in preceding years to exit some markets and services to focus on the public services arena where we are market leaders, meant that our revenues for 2010/11 fell by 9% to just under £35m."
Read more at www.legalweek.com.comments powered by Disqus