Stephenson Harwood plateau partners head for £1m

<a class=Stephenson Harwood plateau partners head for £1m” /> Top-billing Stephenson Harwood partners are in line to pocket £1m after the firm posted a double-digit jump in profit and revenue.

The firm’s average profit per equity partner (PEP) leapt 17 per cent to £620,000 – up £90,000 on last year’s £530,000. Revenue increased almost £14m from last year’s £71.7m.

The profit share for plateau partners is £900,000 – up from £750,000 – but this could be pushed over £1m if bonuses are in line with those paid in previous years.

Partners at the bottom of the equity have seen a drop in profit share from last year’s figure, down £12,000 to £300,000.

Stephenson Harwood chief executive Sunil Gadhia told The Lawyer: “I think we wanted to be very competitive when it comes to profit. It’s seen as an indicator of how successful and good you are.”

The commercial litigation and corporate departments were the main drivers of growth, both enjoying a 40 per cent revenue increase. Finance grew by 23 per cent.