Nabarro posts PEP increase after cutting 17 equity partners

Nabarro has posted a 4.4 per cent increase in profits per equity partner, after cutting 17 partners from the equity ranks last year. The move i credited for turning around a three-year trend in falling profitability. 
This year’s PEP figure was £332,000, which is nowhere near the 2007-08 figure of £610,000, but it is moving in the right direction from last year’s result of £318,000. Revenues rose marginally from £112.6 million last year to £113.4 million this year. Simon Johnston, senior partner at Nabarro, commented: "After stabilising turnover last year, the firm has made good progress during 2011-12 in establishing a strong platform for growth, despite the ongoing economic uncertainty in the UK and Europe. An increase in PEP, combined with the small rise in turnover this year, are welcome. We will be investing in key areas over the coming months and I believe this investment, efficiencies we have already achieved, and increased productivity will signal a return to growth for the firm."

Nabarro posts PEP increase after cutting 17 equity partners legalweek.com Tue, Jul 10, 2012