Nabarro unveils minor drops in turnover and profit

Nabarro has announced a slight drop in revenue and profits for the 2010-11 financial year.

Simon Johnston
Simon Johnston

Income fell by around 1 per cent from £113.8m to £112.6m, while average profit per equity partner dropped by around 0.6 per cent from £320,000 to £318,000.

The biggest share of income came from the real estate practice, which  contributed 31 per cent of revenue, up from 29 per cent last year.

Corporate and commercial contributed 22 per cent, litigation 18 per cent and finance and funds 10 per cent.

Profit margins for equity partners dropped slightly, from 27 per cent to 25 per cent. The firm’s equity spread ran from £165,000 to £505,000.

Senior partner Simon Johnston said: “We’d have liked to have been up on last year. The second half of last year was a bit slow. At the end of the first half we thought we’d move ahead, but the second half was quite patchy.

“Activity levels were generally patchy and we suffered from that. We’d be certainly looking to grow this year.”