Revenue hits five-year high at Kennedys up to £128.5m

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  • Revenue would have to increase if they had an increase of at least 20 partners from a merger - if it dropped, then that would be a real headline. PEP is down, and we don't even need to go there again. What we need is a useful reporting mechanism that can show us revenue per fee earner or profit per fee earner. This would allow us to compare like for like. Headlines such as 'five year high' paint a different picture to what is actually happening. Growth by merger (e.g. Kennedys) or random openings (e.g. Bird & Bird) does increase turnover, but look at fair profitability information, then discount inflation, and then try put a positive spin on that.

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  • Turnover up, partner numbers up, spending up, profits down, chief executive apparently unconcerned....

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