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North West firm DWF has announced a 17 per cent increase in average profit per equity partner (PEP) and a 15 per cent rise in turnover for the last financial year.
DWF’s turnover rose to £83m in 2010-11, compared to £71.5m in 2009-10. PEP went up from £333,000 to £390,000.
The firm’s corporate team produced a revenue rise of 34 per cent, while activity in its core insurance practice went up by 18 per cent.
However, DWF’s real estate and private client practice struggled more. The property team produced a turnover rise of just 6 per cent, while revenues from private client went down by 7 per cent.
Managing partner Andrew Leaitherland said the firm would continue to grow. He pointed to DWF’s 11 lateral hires over the last year and said the firm had invested heavily in both transactional and contentious teams.
The final results are an improvement on DWF’s half-year results, where turnover was up by 12 per cent compared to the previous year.
DWF kicked off the current financial year with the opening of a new office in Newcastle (6 May 2011).