Bevan Brittan boosts partner profits by 35% as revenue remains static
Bevan Brittan has seen profits per equity partner (PEP) increase by 35%, the firm announced today (16 July). PEP for 2008-09 stood at £222,000 compared with £164,000 in 2007-08, with the increase coming against a marginal dip in turnover to £41.1m compared to £41.6m the previous year. Overall profits increased by 56% to £8.6m.
July 16, 2009 at 08:54 AM
2 minute read
Bevan Brittan has seen profits per equity partner (PEP) increase by 35%, the firm announced today (16 July).
PEP for 2008-09 stood at £222,000 compared with £164,000 in 2007-08, with the increase coming against a marginal dip in turnover to £41.1m compared to £41.6m the previous year. Overall profits increased by 56% to £8.6m.
Bevan Brittan chief executive Andrew Manning said that practice areas were relatively flat, including corporate, real estate and litigation, despite new client wins including Lloyds TSB Insurance, Sheffield City Council and Supacat. Manning predicted that revenue and profits would remain static in 2009-10.
Manning said: "We are pleased to be able to announce a greatly improved set of financial results. We made substantial cost reductions in 2007-8 and this has resulted in a significant increase in profit this year."
He added: "The current market conditions are challenging but we believe that the foundation of our business success is based on our diverse portfolio across three core markets of health, communities and local government and major corporates. This diversity has underpinned the stability of our revenue."
Last summer, Bevan Brittan concluded a redundancy programme affecting 30 jobs including six fee earners – two of which were Birmingham salaried partners specialising in licensing and tax work.
Bevan Brittan's results came after Pannone announced a dip in revenue of 1.4% to £53.9m for 2008-09, compared with £54.7m the previous financial year. PEP dropped by 18% to £228,000, down from £278,000 in 2007-2008.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Ropes & Gray, Willkie Farr, KWM, Dechert Act on Xerox's $1.5B Buy in China
Freshfields, MoFo Act on $1.8B TOPPAN Deal As Japan's US Buying Spree Continues
Cox & Palmer to Merge with Benson Buffett in St. John’s, Canada’s Easternmost City
2 minute read
Trending Stories
- 1Holland & Knight Launches Export Control Disputes and Advocacy Team
- 2Blake Lively's claims that movie co-star launched smear campaign gets support in publicist's suit
- 3Middle District of Pennsylvania's U.S. Attorney Announces Resignation
- 4Vinson & Elkins: Traditional Energy Practice Meets Energy Transition
- 5After 2024's Regulatory Tsunami, Financial Services Firms Hope Storm Clouds Break
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
