Nabarro boosted turnover by 13 per cent in the last financial year and expects a 20-plus percentage point increase in average profit per equity partner (PEP). If the firm has achieves the PEP increase it will have hit its target of reaching £500,000 by the end of the 2006-07 financial year. Last year PEP stood at £451,000. Nabarro senior partner Simon Johnston said: "We had a very aggressive budget from the previous year and we actually managed to do much better than we expected." Turnover has increased from £107.3m to £121m. This initial figure does not take into account the impact of reporting standard FRS5.