SNR Denton unveils EMEA financials: PEP up 50% as revenue falls 6%
SNR Denton's EMEA arm has boosted partner profits by around 50%, despite revenues declining by 6% during the 2011-12 financial year. Profits per equity partner (PEP) have risen from £232,000 to £350,000, equating to a 51% increase, with the firm attributing the hike to efficiency savings. Last year's PEP figure was the lowest of all of the UK top 50 law firms.
June 19, 2012 at 09:18 AM
3 minute read
SNR Denton's EMEA arm has boosted partner profits by around 50%, despite revenues declining by 6% during the 2011-12 financial year.
Profits per equity partner (PEP) have risen from £232,000 to £350,000, equating to a 51% increase, with the firm attributing the hike to efficiency savings. Last year's PEP figure was the lowest of all of the UK top 50 law firms.
The firm has this year changed its accounting policies to include allowances made to some international partners that were previously excluded from the profits calculation, meaning that on a like-for-like basis, PEP is up 48% from last year's revised figure of £237,000.
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