Camerons posts double-digit PEP increase as revenues grow 5%
CMS Cameron McKenna has posted a double-digit increase in profits per equity partner (PEP) against a 5% increase in turnover. The firm has announced unaudited turnover of £225m for the 2010-11 financial year, up from £214m last year, with PEP standing at £500,200 - around 11% up on the 2009-10 figure of £452,000.
May 27, 2011 at 10:27 AM
2 minute read
CMS Cameron McKenna has posted a double-digit increase in profits per equity partner (PEP) against a 5% increase in turnover.
The firm has announced unaudited turnover of £225m for the 2010-11 financial year, up from £214m last year, with PEP standing at £500,200 – around 11% up on the 2009-10 figure of £452,000.
The performance comes after Camerons last year saw revenues fall by nearly 11%, with PEP dropping by just over 18%.
Taking Camerons' performance into account, the wider CMS network posted combined annual turnover of €757.7m (£656.7m), up 3% from last year's figure of €737.5m (£639m).
Managing partner Duncan Weston (pictured) said: "In the context of the current economic climate, we have delivered a robust performance across Europe. CMS continues to go from strength to strength, and is being recognised as a leading force in Europe."
Weston pointed to strong performances in the firm's energy & utilities, financial services, life sciences and TMT practices. He also named the firm's pitch win rate as one determining factor for its performance, which increased to 57% over the period, with the firm being appointed to panels including National Grid and Royal Mail.
Weston continued: "We have expanded our footprint with new offices opened in Luxembourg and Albania and we have welcomed 38 new partners to CMS, which brings our total number of partners to just fewer than 800."
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