Simmons joins £500k PEP club

Simmons & Simmons has broken the £500,000 average profit per equity partner (PEP) barrier for the first time with an increase of nearly 13 per cent, the firm's year-end results have revealed.

PEP has risen to £530,000 from £470,000, while turnover has increased by 10 per cent, from £227m to £250.6m.

Simmons & Simmons managing partner Mark Dawkins said: "The firm's continuing good performance is very pleasing, as is exceeding a PEP of £500,000 for the first time."

Earlier this year (5 March) The Lawyer reported on the firm's merger with Spanish firm Mochales & Palacios just two months after it launched its office in Amsterdam, its second in the Netherlands.

The merger and the office launch are both part of the firm's European growth strategy.

Dawkins said: "Our sector focus is also producing good results, illustrating that focusing on key parts of the market and being the best in those areas is the right strategy for the firm."

Has Simmons turned the corner?

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