Charles Russell breaks £50m barrier

Charles Russell has reported indifferent profit per partner (PEP) for the last financial year, at the same time as turnover has inched past the £50m mark for the first time.

Preliminary figures for the 2004/05 financial year have revealed that the firm’s average PEP has remained static at £265,000, the same figure as last year. However, top of equity has jumped 3.5 per cent to £294,000, up from £285,000 in 2003/04.

Turnover has increased 12 per cent to reach £50.03m, up from £44.6m last year.

The increase in turnover follows a particularly strong year for the firm’s corporate finance practice, which topped the list of legal advisers on AIM flotations by advising on 19 in 2004.