Osborne Clarke boosts profit by 27 per cent

Osborne Clarke has posted an impressive 27 per cent profit increase for the last financial year. Average profit per equity partner (PEP) at the Bristol-based firm has hit £360,000, up from £303,000 the previous year, while revenues at the firm rose by 8 per cent to £67m. The results follow a period of tight financial management, which saw radical cuts to the firm's cost base, including a wave of staff and lawyer redundancies, property savings and improved working capital management. First revealed on www.thelawyer.com 16 May