The rise and rise of Berwin Leighton Paisner (BLP) is a phenomenon that has really shaken up the legal market in the last two years. Average PEP for the firm's 65 equity partners (of a total partnership of 141) rose a staggering 34 per cent from last year's £425,000 to £570,000. This growth came on the back of a 40 per cent rise the year before. However, when The Lawyer's groundbreaking average profit per partner (APP) figure is factored in, BLP's figures look slightly less impressive. The firm's tight equity partnership is reflected in an APP figure of £357,000 - 37 per cent less than PEP.

Turnover grew a record 19 per cent, from £102m in 2004 to £121m. Managing partner Neville Eisenberg gained buy-in across the firm for a complete overhaul of the business two years ago, which saw every aspect of the firm scrutinised. The firm is currently reaping the benefits of a well-satisfied and focused workforce.

Revenues in the firm's corporate finance department rose 35 per cent for the second year in a row on the back of a number of AIM listings and an improvement in certain areas, such as private equity and the funds group. Real estate grew 19 per cent, finance was up 17 per cent and litigation grew 16 per cent.

The firm has been recruiting like crazy over the last 18 months, but the equity remains tightly held. However, the equity partnership did grow over the year, from 57 partners to 65. The total partner count was up from 125 to 141.