Eversheds Sutherland PEP Hits Record High
Non-U.S. business revenues have also risen.
June 12, 2019 at 05:48 AM
2 minute read
Lee Ranson, Eversheds
Eversheds Sutherland's profit per equity partner (PEP) in its international arm has risen by 9% to hit a record figure of £886,000, the firm has announced.
Outside the U.S., the firm has also grown its business revenue by 11% to hit £548.8 million.
Both upticks are slightly slower compared to the previous year's growth, when PEP rose 11% and revenue by 13%.
The firm completed a transatlantic merger with Sutherland Asbill & Brennan in February 2017, but the merger partners have remained financially independent, meaning legacy Sutherland's U.S. revenues are not factored into these results.
CEO Lee Ranson said in a statement: "I am pleased to be able to say that for the second consecutive year we have produced a fantastic set of results, with revenue ahead of budget again and strong organic growth across all our practice groups and regions. In FY18/19, we invested heavily in new people and offices and it is great to see that investment starting to pay dividends."
Earlier this year, the firm announced it had grown its global revenue by 10%, hitting $1.17 billion (£900 million) in turnover two years after its transatlantic tie-up.
It has expanded across continental Europe recently, launching in Prague and Bratislava via local mergers.
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