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Two more mid-size City firms are revealing strong year-end provisional figures as the financial reporting season gets underway.
SJ Berwin’s turnover has risen 9.5 per cent from last year’s £91.3m to just over £100m, with profits per partner predicted to soar by more than 30 per cent to approximately £510,000. The firm’s financial performance for 2003-04 is in marked contrast to its figures the previous year, where turnover dropped by some 4 per cent and average profits per equity partner (PEP), at £409,000, were the lowest since 1998.
SJ Berwin senior partner David Harrel said: “Our profits are on a U-curve. We made it our objective to jump back to where it had been [two years ago].”
Meanwhile, Lawrence Graham is also set to announce strong preliminary results. The firm’s revenue has risen 5 per cent to £57.6m, while PEP has broached the £400,000 barrier for the first time at £416,000 – an 11 per cent increase.