South East firm DMH Stallard has smashed its profit per equity partner (PEP) target despite posting just a 6 per cent rise in turnover during the 2005-06 financial year.
PEP jumped by 22 per cent to £220,000 from £180,000 for the year to 30 June 2006. Earlier this year managing partner Tim Aspinall told The Lawyer that he expected a 12 per cent rise in PEP, which would have taken it to just £200,000.
However, fee income edged up just 6 per cent to £21.2m from £20m last year, when turnover was boosted by the merger of DMH with London outfit Stallard.
Highlights of the past year include securing a place on the London Development Agency legal panel and winning planning permission for Brighton & Hove Albion Football Club’s new stadium.
The figures make DMH Stallard the second-largest firm in the South East by turnover. However, it still lags far behind Thomas Eggar, which generated a £30.8m turnover and a PEP of £274,000 during the last financial year.