Brodies’ growth in single figures as PEP returns to 2006-07 level

Scottish firm Brodies has ended its eight-year run of double-digit turnover growth after posting a turnover rise of 5 per cent for 2008-09.

At the end of the financial year turnover stood at £39m, up from £37m the previous year.

Average profit per equity partner (PEP) fell by 18 per cent, taking the firm back to the £333,000 seen in 2006-07.

Partners on the bottom rung of Brodies’ five-year lockstep received an equity share of £200,000, while plateau partners took home £420,000.

The breakdown of turnover on practice lines changed slightly over the course of the year, with ­litigation nudging ahead of real estate by generating 30 per cent of turnover. Real estate accounted for 28 per cent. Last year both ­practices accounted for 30 per cent.

Looking ahead to the ­current year, Brodies ­managing partner Bill Drummond said conditions would remain tough but added that there should be more ­business activity as ­opportunities arise.