BLP results: net profit jumps 22 per cent as turnover reaches £191m

Berwin Leighton Paisner saw both turnover and profit grow over the last financial year, as income rises above £190m for the first time.

The City firm posted turnover of £191m for the 2009-10 financial year, a six per cent increase on the previous year’s total of £180m (18 July 2009).

Turnover was boosted by the opening of a Moscow office at the beginning of the 2009 calendar year. This is the first full year that the contribution of this office is felt in its global income.

BLP made a total profit of £41.4m in 2009-10, reflecting a margin of 22 per cent. This is an increase of 22 per cent on the £34m net profit figure for 2008-09.

At the same time profit per equity partner has increased by nine per cent from £414,000 to £455,000. The firm, which made a number of high profile lateral hires over the last financial year, had 91 full-time equivalent equity partners last year, compared with 84 the previous year.