Eversheds‘ top earner got £860,000 in 2007-08″ />The highest-earning partner at Eversheds took home £860,000 in the 2007-08 financial year, an increase of more than £100,000 on the previous year, according to the firm’s LLP results.
The average remuneration per partner grew by £4,000 to £351,000 during the period. The accounts reveal that the firm’s staff costs increased by almost £7m year on year to hit a total of £173.4m.
Meanwhile, the firm reduced its debt by around 40 per cent to £6.2m at the end of April 2008 compared with £10.1m at the start of May 2007, through the management of cashflow.
Eversheds saw turnover drop during the first six months of the current financial year, with revenues sitting 4 per cent down on the first half of 2007-08. The firm netted £188m in fees over the six-month period compared to £196m at the same point last year.
Eversheds chief executive David Gray (pictured) said at the time that the small decline is evidence that the business is holding up well amid difficult circumstances. He added that some practice areas, such as competition, saw growth of around 30 per cent.
Eversheds was unavailable for comment on the LLP accounts.