Taylor Wessing reports double-digit PEP growth as revenue climbs
Profit per equity partner tops £760,000 on back of 8% rise in UK turnover following strong 12-month performance at City firm
June 04, 2015 at 06:18 AM
2 minute read
Taylor Wessing's UK arm boosted its profit per equity partner (PEP) by 17% over the last financial year, its results for 2014-15 show.
PEP rose from £657,000 last year to £767,000 in 2014-15, while UK revenue stood at £121m, up 8% from the year before. International turnover grew by 6% at constant exchange rates to £239.8m.
Managing partner Tim Eyles (pictured) described the firm as "ambitious" with "significant further investment" planned over the next 12 months, particularly in its international network.
The firm pointed to a strong performance across all of its major practice areas including transactional, contentious and advisory work.
The last 12 months have seen Taylor Wessing open representative offices in Palo Alto and New York, while headline deals include acting on the sale of the iconic Gherkin building and the £2bn sale of United Biscuits to Turkish rival Yildiz Holding.
Other firms to report significant increases in revenue so far this year include Addleshaw Goddard, which grew fee income by 12%, Osborne Clarke, reporting growth of 15%, and Fieldfisher, which improved turnover by 9%.
Of these, several are still to disclose PEP or operating profit numbers, including Addleshaws, Osborne Clarke, Weightmans and Bond Dickinson.
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