Burges Salmon revenue and PEP climb to record heights
Turnover at Burges Salmon climbs 8% and PEP climbs 7%
July 22, 2016 at 03:01 AM
2 minute read
Burges Salmon has announced that it hit record revenue and average profit per equity partner (PEP) levels in the last financial year.
In the year to 30 April 2016, the firm's revenue was £87.4m, up 8.2% from £80.8m the previous year.
Average PEP also increased to £532,000, up 7.2% from £488,000 in 2014-15.
Burges Salmon senior partner Alan Barr (pictured) said: "We have continued to grow organically, rather than through merger, which has enabled us to focus on delivering excellent client service and to retain and nurture our strong cultural identity."
Speaking to Legal Week, Barr said the growth followed investments of £45m in the last five to six years on IT, new buildings in London and Bristol, and new partners.
The firm's partnership has also grown to 85 and, according to Barr, the firm has "made up 25%-30% of its partnership since 2010".
Burges Salmon appointed four new partners in 2015-16, in addition to bringing in Travers Smith banking partner Andrew Eaton.
Burges Salmon has launched a new strategy in the last year, focusing on seven sectors, down from 12. The new strategy entails a focus on transport and infrastructure, private wealth, real estate, energy, financial services and the public sector.
Panel wins for the firm in 2015-16 include its appointment to retailer John Lewis Partnership's legal panel, an appointment to engineering company Costain's panel and an appointment to the Financial Services Compensation Scheme's panel.
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