Stephenson Harwood posts double digit growth” />Stephenson Harwood has posted a double-digit jump in profits and revenue with global turnover rising 19 per cent to £85.3m.
The firm managed to hike its average profit per equity partner (PEP) figure 17 per cent to reach £620,000, up £90,000 from last year’s figure of £530,000. Revenue increased almost £14m from last year’s haul of £71.7m.
Partners at the top of the equity ladder will get £900,000, representing a £150,000 jump from last year’s £750,000. Those at the bottom will get £300,000, which is £12,000 less than last year.
Sunil Gadhia (pictured), chief executive of Stephenson Harwood, said: “This has been an outstanding year for Stephenson Harwood, for which people across the business have worked exceptionally hard.”
The commercial litigation and corporate departments were the main drivers of growth for Stephenson Harwood, with both enjoying a 40 per cent increase in revenue. Meanwhile finance grew by 23 per cent.
Earlier in the year, the litigation group acted for IXIS Corporate & Investment Bank in negotiations for a big money settlement with Terra Firma.
Overseas the firm had mixed results. Revenue in Hong Kong, Guangzhou and Shanghai grew by only seven per cent while Singapore managed a 34 per cent turnover increase. The Paris and Piraeus offices managed growth rates of 148 per cent and 111 per cent respectively.