Turnover up at 2Birds as PEP remains flat

Bird & Bird grew total revenue by 6 per cent during 2010-11 to £214.6m from £201.8m while average profit per equity partner (PEP) remained virtually flat at £467,000.

David Kerr
David Kerr

Net profit stood at £38.3m while the firm’s merit-based equity stretched from £292,000 to £778,000. The total number of partners grew from 214 to 226.

David Kerr, Bird & Bird’s chief executive, said the firm was pleased with its growth last year, adding that it had been, “steady across the whole of our network, despite the still difficult market”.

Kerr continued: “We expect improved growth in the next financial year and we have a strong international platform to take advantage of increased opportunities.”

Bird & Bird’s most recent international platform growth came in Germany earlier this year, when it hired a team of six lawyers specialising in real estate, corporate and restructuring by acquiring Hamburg boutique Recore Business Lawyers (19 April 2011).

The technology-led firm also recently opened an office in Abu Dhabi.