Dundas sees revenues and PEP inch up
Dundas & Wilson has announced its 2010-11 financial results, posting revenues of £62m against profits per equity partner (PEP) of £325,000. The results represent an increase of just under 2% from last year's turnover figure of £61m, with PEP climbing from a reported figure of £317,000 on the back of total profits of £25.4m. The firm's final PEP figure for 2009-10 was lower than initially reported, as partners later made additional payments to the staff bonus pool.
July 04, 2011 at 10:54 AM
2 minute read
Dundas & Wilson has announced its 2010-11 financial results, posting revenues of £62m against profits per equity partner (PEP) of £325,000.
The results represent an increase of just under 2% from last year's turnover figure of £61m, with PEP climbing from a reported figure of £317,000 on the back of total profits of £25.4m. The firm's final PEP figure for 2009-10 was lower than initially reported, as partners later made additional payments to the staff bonus pool.
Broken down by practice area, the firm's property practice saw turnover of £14.4m in 2010-11, finance brought in £10.8m in turnover, while corporate and litigation saw turnover of £8.5m and £7m respectively. Turnover from the firm's other practice areas totalled £21.3m.
Managing partner Donald Shaw (pictured) commented: "This is an acceptable set of results, particularly given the challenging trading conditions across the legal services market. We have always had an efficient business model which allows us to maintain and grow a sustainable long-term business to better serve and provide value for our clients."
He added: "Counter-cyclical areas such as restructuring and recovery and litigation continue to perform strongly and, in spite of continuing challenging economic conditions, our real estate practice has also been a major contributor to our overall performance."
Dundas's results comes after Nabarro last week (1 July) posted its unaudited results for 2010-11, with the firm seeing a 1% drop in turnover to £112.6m while PEP also dropped by around 1%, falling from £320,000 to £318,000.
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