Eversheds with ten per cent growth in revenue

May 16, 2008 Eversheds has delivered a ten per cent growth in annual revenue which now stands at £390m. Profit per equity Partner (PEP) growth also grows in line with revenue growth at ten per cent , bringing Eversheds' PEP to £552,000, combined with a sustained profit growth of seven per cent, achieving annual revenues of £390m. This continued delivery of strong performance figures follows the implementation of a series of major strategic investment plans across the business, including brand new offices in the City of London.

However, the firm is warning that the legal sector will face challenges in the coming year, as the full impact of the credit crunch is felt.

David Gray, chief executive at Eversheds, comments:

"We are on course to achieve the strategic objectives we outlined two years ago, which centred on increasing the coverage of Eversheds international, expanding our London offering, becoming a great place to work and continued investment in first class client service. However, we are not naïve in thinking that the credit crunch won't impact the sector – it will. While we have ensured that our business model means we can react to any market conditions, we understand that the current economic climate means that many clients will be looking to manage costs much more closely and our investment in cutting edge project management and Global Account Management systems ensure that Eversheds is able to do just that."

Read more at www.eversheds.com.

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