BLP revenue up 6 per cent at half year

Berwin Leighton Paisner (BLP) has announced a 6 per cent increase in revenue for the first six months of the 2013/14 financial year. 

According to the firm its litigation and real estate practices were up and revenue from offices outside London increased.

BLP brought in revenues of £233m for the full year in 2012/13 – a 5 per drop from the previous year when revenue was £246m (19 July 2013 ). However in September it revealed a 39 per cent drop in profit per equity partner (PEP) and a 38 per cent drop in net profit (30 September 2013).

During the 2012/13 financial year net profit dropped from £63.6m to £39.4m, giving the firm a profit margin of 17 per cent, while PEP fell from £660,000 to £401,000.

The firm refused to comment on the half-year profit figure but managing partner Neville Eisenberg said: “We had a good first half and activity levels in the firm continue to be encouraging.

“Over the first six months our offices outside London experienced strong growth. London also performed well with our litigation and real estate departments having a particularly busy six months.”

Litigation and real estate make up almost half of the firm’s revenue, with corporate and finance making up 40 per cent.

The firm’s corporate and finance practices have suffered exits over the past year with head of banking and finance head Matthew Kellett marking the latest high-profile departure from the firm (30 October 2013). In total, the two teams have seen nine exits since the middle of July (4 November 2013).