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Denton Wilde Sapte (DWS) has reported a 6 per cent increase in turnover, from £147.5m up to £155.7, for the 2007 financial year.
After the 2006 profit per equity partner (PEP) increase of 37 per cent to £375,000, this year’s growth in PEP slowed, rising by 10 per cent to £411,000.
DWS chief executive Howard Morris commented: “Getting PEP above the £400,000 mark is an important milestone for the firm, but we continue to look forwards rather than backwards.”
Earlier this year (26 March) The Lawyer reported that rival firm Lovells raided DWS’s Dubai office, taking Islamic finance specialist Rahail Ali and his four-partner team to ramp up its Islamic finance capability in the Middle East.
Despite this loss Morris remains confident about the firm’s international capabilities, with international work contributing 20 per cent to overall turnover.
Morris said: “I expect this figure to hit 33 per cent within the next three years. Our firm is, and will continue to become, increasingly international.”