Bircham Dyson Bell has broken through the £300,000 average profit per equity partner (PEP) barrier, recording a jump of 23 per cent to £312,000.
Those at the top of the equity will now be earning £325,000 on the back of a
net profit of £8.2m, while total revenue is up by 14.5 per cent to £35.5m.
Managing partner Guy Vincent said: “The growth in profit was generated by
better time recording – headcount’s only increased by 2 per cent.”
The firm now has 148 lawyers – four more than last year.
The growth in revenue was boosted by a 17 per cent expansion across three
departments – private client and charities, commercial and the parliamentary, public law and planning groups.
The tax law changes handed the firm new clients looking for onshore and
offshore tax advice, Vincent added.
Elsewhere, litigation grew by 16 per cent, with Vincent saying the department
benefited from providing advice to the Law Society over new rules on legal aid.
“The commercial team, led by Ian Adamson, challenged a contract. Then the
litigation team, led by Peter Jacobsen, won a judicial review,” explained Vincent.
“The Legal Services Commission took it to the Court of Appeal and we won. The quango wasn’t prepared to back down – it was very stubborn about it.”