Burges Salmon posts 11% rise in profit per equity partner
The firm posted an average profit per equity partner of £488,000, marking an 11.42% increase on its 2013-14 number
July 31, 2015 at 06:23 AM
2 minute read
Burges Salmon has announced an 11% increase in profit per equity partner (PEP) to £488,000.
Revenue for the 12-month period ending on 30 April 2015 was £80.8m, marking a 5.5% increase on its 2013-14 revenue of £76.5m.
The increase in PEP was made possible by an increase in net profit to £28.1m in 2014-15, up from £25.4m the year before.
Corporate was the firm's strongest performing department, generating 36% of revenue. Disputes brought in 33%, finance generated 5% and other practice areas made up the other 26%.
Burges Salmon operates a pure lockstep remuneration model, with partners at the top of the ladder taking home £583,000 and partners at the bottom receiving £262,000.
The firm was successful on a number of panel bids during the last financial year. In December 2014 Burges Salmon won a place on the UK Ministry of Defence's major projects panel, having missed out on a spot following the previous review in 2006.
In October 2014 the firm was also re-appointed to electricity and gas regulator Ofgem's panel.
Burges Salmon was set to pitch for its spot on the UK government's Catalist legal panel in January 2015, but the process has been pushed back to January 2016. Burges Salmon is on the current panel for six major areas including finance and regulation, general commercial and major or complex projects.
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