Camerons revision triggers small bonus increase

CMS Cameron McKenna has had its preliminary financial results revised, putting a slightly shinier gloss on an otherwise disappointing year.

Turnover is up by 6.5 per cent to £197.4m, where previously it was thought to be up by just 6.3 per cent.

Average profit per equity partner (PEP) rose by 5.5 per cent to £502,000, making it one of a group of firms to have passed £500,000 this year. It had expected PEP to rise by just 1 per cent to £476,000.

Other firms to have broken through the £500,000 barrier for the first time this year include Eversheds, Norton Rose, Osborne Clarke and Simmons & Simmons.

The revisions mean that the firmwide bonus will be 3.2 per cent rather than 2.8 per cent. The firm’s associates also have a bonus scheme based on chargeable hours.