Pinsents’ turnover breaks £200m mark

Pinsents' turnover breaks £200m markPinsent Masons has broken through the £200m turnover barrier for the first time, boosting income by 11 per cent to hit £213m.

The firm expects profit per equity partner (PEP) to rise £30,000 to around £500,000 but managing partner David Ryan said that the profit figures would be finalised at a later date.

Last year turnover stood at £192m meaning the firm’s revenue grew by £21m during a period of global economic uncertainty.

Ryan said: “I wouldn’t want to count any chickens but what’s very encouraging for me is that we had a strong four months this calendar year, while other firms had a few difficulties.”

The firm’s projects and construction group increased billing 20 per cent on last year, while the banking and insurance team posted growth of 17 per cent.

Ryan said: “Our plans are built around consistent year on year progress.”

He added that he expected strong results for next year, with the firm looking to build up its international presence in growing markets like Dubai.

For more on the financial results at all the top UK firms as they come in, see our Top of the PEPs 2008 blog here