SJ Berwin has recorded an impressive turnover of £85.2m.
Average profits per partner, though, dropped in a year where the firm paid heavily for rapid European expansion and for taking on more than 10 new equity partners. The firm's turnover rose 22 per cent from £70m to £85.2 while average profits per partner fell from £560,000 to £555,000. Senior partner David Harrel said: "Profits per partner were flat in one sense on the previous year, because the number of equity partners increased by 18 per cent. "Our investment in new offices, which started really early in the financial year, was inevitably going to keep profits flat, but in the end we were really pleased with the results." SJ Berwin opened its greenfield Paris office in February. In November last year, it expanded its German operation by hiring a team of private equity and venture capital lawyers to open a new office in Munich. The costs of SJ Berwin's German expansion are reflected in the figures,but German revenue is not included.