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Midlands-based Freeth Cartwright has posted an average profit per equity partner (PEP) of £150,000, a 36 per cent drop on the previous financial year’s PEP of £233,000. Turnover at the firm fell by 3 per cent to hit £32.5m.
The equity spread at Freeth Cartwright has fallen from a range of £147,000-£335,000 last year to £105,000-£180,000 during this financial year.
The firm has a total of 37 equity partners, which is an increase of one on the previous year.
Property has been the strongest practice area, bringing in 43 per cent of turnover, followed by 38 per cent from corporate.