BLP sees revenues drop by 5%
Berwin Leighton Paisner saw revenues drop by 5 per cent last year, according to its financial results. Revenue came in at £233m for the 2012-13 financial year, down from £246m in 2011-12. The 2011-12 result was itself 7.4 larger than the 2010-11 financial year.
The firm declined to publish this year's profits per equity partner figure, but last month Legal Week reported that partners were saying profits could be down as much as 50 per cent this year, which could take PEP down to around £330,000, compared to £660,000 in 2011-12.
Earlier this month BLP confirmed that it had made 102 redundancies, including 58 legal staff and 44 secretarial staff, and the firm has confirmed a delay in its annual partner bonuses.