Freeth Cartwright suffers 36 per cent drop in PEP

Midlands-based Freeth Cartwright has posted an average profit per equity partner (PEP) of £150,000, a 36 per cent drop on the previous financial year’s PEP of £233,000. Turnover at the firm fell by 3 per cent to hit £32.5m.

The equity spread at Freeth Cartwright has fallen from a range of £147,000-£335,000 last year to £105,000-£180,000 ­during this ­financial year.

The firm has a total of 37 equity partners, which is an increase of one on the ­previous year.

Property has been the strongest practice area, bringing in 43 per cent of turnover, ­followed by 38 per cent from corporate.