Dentons half-year PEP rebounds after partner exodus

Denton Wilde Sapte is predicting its profit per equity partner to move back above the psychogically-important £300,000 milestone by the end of the financial year but revenues are likely to suffer.

Six-month PEP is up 29 per cent on the same period last year and firm is confident that this performance will help it achieve a PEP of £360,000 by April 2006.

During the financial year ending April 2005 DWS’ PEP fell to £279,000 a drop of 14 per cent on the previous year.

Revenues for the firm are unlikely to see the same growth. Last year DWS lost no fewer than 27 partners – almost a fifth of its partnership. Former partners at the firm estimate that turnover could fall by as much as 15 per cent which could result in a drop to £138m over the whole year.