Edmund Reed, Travers Smith's managing partner, said the firm remains 'extremely confident'. Credit: Courtesy Photo 
Travers Smith's profit per equity partner dipped 10% in the last financial year, one of the largest falls in the U.K. Top 50.
Average PEP decreased by 9.8% in the 12 months to June, the firm announced on Friday, falling to £1.1 million, compared with £1.22 million last year.
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