Travers Smith sees PEP soar 53 per cent to £705,000

Travers Smith has staged a stunning financial recovery, with revenues projected to be £72m for the 2009-10 financial year.

Andrew Lilley
Andrew Lilley

This represents an increase of 12 per cent from last year’s turnover of £64.5m, although the firm has yet to recover its record performance of 2008, when it posted £81m in revenues.

Travers’ average profit per equity partner (PEP) saw an even more dramatic rebound, from £460,000 to £705,000 – an increase of 53 per cent. In 2008 its PEP stood at £755,000.

Managing partner Andrew Lilley said: “The improvement in our performance, compared with the preceding year, reflects the fact that we were fortunate to have a good run from around October 2009 leading to increased levels of activity across the firm, in particular our private equity, finance/restructuring and litigation teams.”