Thomas Eggar set for revenue hike

South East firm Thomas Eggar is on target for a 22 per cent increase in turnover this year as it posts bumper half-year figures.

Six-month fee income is up 17 per cent on the same period last year and the firm aims to finish the year with a turnover of close to £34m, up from £27.8m for the 2004-05 financial year.

The firm did not disclose profit figures at the half-year stage. However, managing partner Tony Edwards told The Lawyer that he has set a target for profit per equity partner (PEP) to hit £300,000 by the end of the 2006-07 financial year. Last year’s PEP was £235,000.

The firm has expanded quickly this year, appointing at least 11 new lawyers. It has also undergone some organisational changes. In 2004, it changed its remuneration system to a modified lockstep with a merit system. It relocated a third of its lawyers to Crawley and closed its Horsham and Reigate offices .