SJ Berwin turnover flatlines after year of “consolidation”

Silver circle firm posts revenues of £180m after tough year for corporate work

Rob Day
Rob Day

SJ Berwin has announced a marginal increase in turnover for the 2011-12 financial year with average profit per equity partner (PEP) nudging up by roughly 1 per  cent.

The City firm has posted a fee income figure of £180.1m, with the figure representing an increase of 0.6 per cent on last year’s turnover of £179m (30 May 2011).

PEP rose by just over 1 per cent from £626,000 to £635,000, with managing partner Rob Day putting the increase down to static costs after last year’s profit hike followed a cost-cutting drive.

Last year the firm enjoyed a 40 per cent increase in average profit per equity partner (PEP), which marked a significant recovery following years of profit drops.

Day admitted London corporate had a tough second half of the financial year, while the contentious and regulatory business and the German corporate practice had strong years, Day said.

He declined to comment on exploratory talks the firm had held with Mayer Brown (22 May 2012) but said the firm talks to a number of firms about mergers.

He also said the Hong Kong office was faring well, especially in funds, with a Singapore launch an option when an opportunity arises.