Taylor Wessing boosts PEP by 19% alongside 9% turnover hike
Taylor Wessing's UK partnership has boosted profits per equity partner (PEP) by 19%, marking the second consecutive annual increase after PEP fell 30% two years ago. The firm's 2010-11 financial results have seen UK PEP rise to £537,500, with revenue up 9% from £84.5m to £92.1m - the same level it stood at two years ago.
May 26, 2011 at 11:21 AM
2 minute read
Taylor Wessing's UK partnership has boosted profits per equity partner (PEP) by 19%, marking the second consecutive annual increase after PEP fell 30% two years ago.
The firm's 2010-11 financial results have seen UK PEP rise to £537,500, with revenue up 9% from £84.5m to £92.1m – the same level it stood at two years ago.
The firm has also posted an 8% increase in global revenues, up from £177.9m in 2009-10 to £191.3m, but has yet to finalise its global PEP figure.
In 2009-10 the firm saw UK PEP rise 5% to £455,000, while UK turnover fell 7% to £84.5m from £91.2m. Global turnover decreased by 5% from £188m to £178m last year.
Commenting on the figures, UK managing partner Tim Eyles (pictured) said: "These numbers flow from the implementation of our clear international strategy and reflect our strength across a wide spectrum of practice areas.
"We continue to be innovative in our approach and that is driving investment in new geographies, in our chosen focus industry sectors, and in the development of services that allow us to add value to our clients, along with the efficiencies they are demanding."
The news comes after Field Fisher Waterhouse posted single-digit increases in both revenue and PEP, with 2% and 7% rises respectively.
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