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A number of mid-sized UK firms have posted strong year-end figures as the financial reporting season gets underway.
Berwin Leighton Paisner (BLP) reported a record set of figures for 2003-04. The firms profitability leapt by a stunning 40 per cent; turnover went up 12 per cent, from 91m to 102m, while average profits per equity partner (PEP) have jumped from 303,000 last year to around 425,000, although this figure has yet to be finalised.
Managing partner NevilleEisenberg put the improvement down to the pitches were winning and the panels were getting onto.
SJ Berwins turnover has risen 9.5 per cent from last years 91.3m to just over 100m, with profits per partner predicted to soar by more than 30 per cent to approximately 510,000. The firms financial performance for 2003-04 is in marked contrast to its figures the previous year, when turnover dropped by some 4 per cent and average PEP, at 409,000, was the lowest since 1998.
Lawrence Graham has also announced strong preliminary results. The firms revenue has risen 5 per cent to 57.6m, while PEP has broached the 400,000 barrier for the first time at 416,000 an 11 per cent increase.
National firm Eversheds beat its billing budget with revenues of 296m. Turnover for the financial year to April 2004 signalled a 4 per cent increase on the previous 12 months, when gross turnover reached 284.9m.