Holmans' profit soars on back of consolidation

Holman Fenwick & Willan's profit has rocketed by 30 per cent after a year of focus and consolidation.

The firm is expecting average profit per equity partner (PEP) to hit £405,000 this year, up from £311,000 in 2005. Turnover is up by 18 per cent to £61.5m from £52m.

Managing partner Greg Gray said: "What we've done is consciously try to hold overheads at the same time as increasing revenue, which in turn feeds into the bottom line."

Gray said all the firm's departments had performed consistently to help produce the results.

The firm's new international offices in Dubai and Melbourne, announced in December 2005, have not contributed to the growth, as they joined Holmans at the start of the new financial year.

In addition to the new offices, Holmans has made a number of hires during the year, including a commodities team from rival Hill Taylor Dickinson.