West End firm Fladgate Fielder is expecting to post profit per equity partner (PEP) in excess of £500,000 for 2006 once the firm’s accounts have been audited.
The firm’s revenue rose to £22.6m, an increase of 10 per cent. Provisional figures put average PEP up by nearly 20 per cent at £508,000, with the spread between the top and bottom of equity running from £312,000 to £780,000.
Fladgates finance director John Goering said that “sustainability and consistency” were the key aspects of the firm’s performance. “Each department increased both profit and turnover,” added Goering.
Average PEP has hovered around the £400,000 mark at Fladgates for the past five years. However, a significant increase in overseas deals, and strong performances from the firm’s core property and corporate groups, resulted in a 19 per cent rise last year.