Profits up as Speechly bucks trend

Speechly Bircham has defied this year’s trend as it releases figures showing a 5 per cent increase in profitability for the year ending 2002.
While turnover rose by 10 per cent to £23.4m, profitability was also up from £295,000 per partner to £310,000.
According to managing partner Michael Lingens, the firm performed very well at the beginning of 2001, which compensated for the slowdown later in the year. “Last year, all the practice groups ended up ahead of budget. This meant we could compensate for a slow second half for corporate work in line with general market trends,” he said.
The property department had a particularly strong year with a sting of high-profile deals, including instructions from Royal London on the £300m Iceni portfolio disposal and £160m Southpoint development and Visa International on the acquisition of its new headquarters in Paddington Central.