Stephenson Harwood records 19% PEP growth while revenue hits £121m
Stephenson Harwood has posted an unaudited 19% hike in profits per equity partner (PEP) for 2013-14, along with revenue growth of 8%.
June 23, 2014 at 07:06 AM
2 minute read
Stephenson Harwood has posted a 19% hike in profits per equity partner (PEP) for 2013-14, along with revenue growth of 8%.
Unaudited figures for the past financial year show revenue grew to £121m in 2013-14, increasing from £112.3m the previous year.
Meanwhile, PEP jumped to £537,000, up on last year's figure of £450,000.
Stephenson Harwood chief executive Sharon White (pictured) said the firm's transactional practices – comprising corporate, finance and real estate – were standout performers.
"Our performance this year reflects the importance of the investments we have made in developing the firm during the past few years and we will continue to identify opportunities to grow and strengthen our business," she added.
Revenue growth outstripped last year's rise, when the firm recorded an increase of 2% in fee income.
Major mandates during 2013-14 included acting for Baker Tilly on its acquisition of accountancy practice RSM Tenon in a pre-pack deal, representing Northern Rail on its 22-month franchise agreement franchise agreement with the Department for Transport, and advising Nigeria's Bonny Gas Transport on the $1.1bn (£646m) financing of six new liquefied natural gas vessels.
The firm also successfully defended former director general of Russian state-owned shipping giant Sovcomflot Dmitry Skarga in a dispute against his former employer, in what is thought to be one of the largest ever shipping fraud trials.
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