Walker Morris’s PEP tumbles by 27 per cent
North East firm Walker Morris saw average profit per equity partner (PEP) drop 27 per cent in 2008-09 on the back of a turnover drop of 8 per cent. PEP dropped from £670,000 in 2007-08 to £486,000. Revenue fell from £48m to £44.2m. Managing partner Peter Smart said: “While this reduction is disappointing we can’t defy gravity. […]