Stephenson Harwood has announced its financial results, with both revenue and profit remaining close to last year’s levels.
The firm’s turnover dipped slightly, from £85.3m to £85.1m, while average profit per equity partner fell by 2 per cent to £610,000. Chief executive Sunil Ghadia put the robust financial performance down to careful management of costs and growing income from the Asia practice.
Ghadia also pointed to growth in the litigation and employment practices, adding: “This has been a challenging year because of market conditions, but every part of our business has made a significant contribution to our performance.” Stephensons’ equity spread also remained steady, with equity partner earnings ranging from £300,000 to £900,000. The firm made 10 lawyers redundant in the 2008-09 financial year.