Midlands firm Browne Jacobson has announced its 2006-07 turnover, which is up by just 3 per cent from £30.1m to £32m.
The firm has not yet confirmed profit figures, but managing partner Brian Smith predicted that average profit per equity partner (PEP) would be up by approximately 8 per cent, to £315,000.
Any increase would compensate for a disappointing 2005-06, in which PEP fell by 11 per cent from 2004-05’s high of £316,000, to £292,000 (The Lawyer, 29 May 2006). This was partly due to an increase in the equity partnership from 50 to 57 members.
Smith said: “Investment has remained a key focus for us this year in terms of our people, IT and our Birmingham and London offices.”
However, while the firm promoted three associates to the partnership at the start of this month, it has not made any lateral hires to the equity partnership in the 2006-07 financial year.
New clients for this year include TK Maxx, Centre for Contemporary Arts Nottingham, Wyggeston’s Hospital in Leicester, and the Association of Council Secretaries and Solicitors.