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Manches net profit drops to 10-year low of £2.15m, PEP down to £135k

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  • Perhaps all these firms posting PEP figures in the mid £100s should merge or form a "just over 100k"club

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  • It's tough at the top.

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  • Investing in infrastructure, retaining associates and support staff and re-focusing the practice into core areas of business all cost money. The fact that it is the equity partners taking the hit should be met with applause not derision. This, relatively modern, focus on PEP is absurd and destructive.

    I do not work at Manches and simply think that this rather prurient interest in Equity Partner income does the profession no good at all.

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  • If you don't work there, how do you know Manches is investing in infrastructure? Disposing of good associates costs even more money ! Also, if you read the atricle again, it does not just focus on PEP but the top and bottom line. Time to focus and refocus....all a bit blurred if you ask me !

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  • I can read.

    http://www.manches.com/news-publications/manches-reading-office-move

    Manches Reading office move- 24/01/2013
    The Reading office of London and Thames Valley law firm Manches LLP has moved to new premises in Apex Plaza in the centre of Reading.
    Manches now occupies new bespoke offices in one of Reading’s landmark buildings. The move, in January, signifies the continued expansion and growth of the firm’s Reading office following its establishment in 2010.
    Richard Smith, Managing Partner of Manches Thames Valley, said:
    “Our Reading office has gone from strength to strength, more than doubling in size over the past two years. The move to Apex Plaza demonstrates our continuing commitment to Reading and wider Thames Valley region.”

    Reading Corporate partner and office head, Justin Starling, commented:
    “Our Reading team has grown rapidly since we moved into Reading two years ago, and this new office move is part of our strategy for the continued expansion of our practice over the next few years. We see our ability to serve clients from our London, Reading and Oxford locations as giving us great potential for further growth and development, and being in Apex Plaza, next to the new station, gives us an even better base from which to achieve that.”

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