Speechlys boasts 27 per cent increase in PEP

Speechly Bircham has seen its profit per equity partner (PEP) figure skyrocket by 27 per cent for 2005-06 to £465,000, while increasing its turnover by 17 per cent.

Speechlys saw its turnover hit £34m, up from £29.1m in 2004-05, while the PEP figure grew £100,000 from last year’s £365,000.

Managing partner Michael Lingens said: “This was another good year for us, with strong performances across the board and every practice area achieving double-digit increases and exceeding budget.”

The performance has seen the firm remain on track for its three-year business plan target to hit 50 per cent growth in turnover and fee-earners by April 2007.

Lingens singled out the banking and finance, property and private client practices as the drivers behind the firm’s performance.

Six lateral hires in the past year have increased the firm’s partnership count to 58.