Farrers breaks through £50m revenue barrier for first time

Farrer & Co has seen its turnover push through the £50m barrier with a 2.4 per cent increase in revenue, from £49.6m in 2011/12 to £50.8m last year.

The firm’s average PEP rose by a similar margin, from £417,000 in 2011/12 to £427,000 last year. The firm’s equity spread ranged from £270,000 at the bottom end to £565,000 at the top of equity. 

Farrers’ headcount rose slightly, from 170 lawyers in 2011/12 to 172 last year.

Litigation continues to be the firm’s biggest practice area, accounting for 33 per cent of turnover. Corporate, with 17 per cent of turnover, and property, accounting for 19 per cent, were the other two largest single pracrtice areas.

Earlier this year Farrers made nine people redundant (16 May 2013).