Thomas Eggar had a relatively stable year, with turnover dropping by 1.7 per cent to £34.2m, but net profit increasing by around 7 per cent from £5.8m to £6.2m.
The latter was largely attributed to the cost of the redundancy programmes in 2008-09 and 2009-10, as well as the acquisition of a new office in Southampton.
The South East firm’s average profit per equity partner rose by 19.5 per cent to £217,500, helped by the de-equitisation of three partners and increased business activity across the board. This boost, however, was not strong enough to attract the possible merger with a London firm Thomas Eggar is looking for.
Private client remains Thomas Eggar’s flagship practice, while personal injury saw a noticeable pick-up. The firm is continuing to target clients in sports and media and the retail sectors, picking up Sainsbury’s (Death Benefit Trust) and Saga.
A partners’ council, made up of six representatives appointed by managing partner Tony Edwards and the wider partnership, runs the firm. Edwards also sits on the operations group with the finance director and the operations director, who collectively deliver the business plan.