Salans passes E200m milestone

Salans has defied the ­economic downturn to post a 16 per cent jump in turnover for 2008, passing the E200m (£179.37m) barrier for the first time.

Salans has boosted its revenue to E214.4m (£192.3m) – up from the E184.7m (£165.65m) haul the firm managed the previous year. Despite the turnover rise, the firm expects average profit per equity partner (PEP) to remain static
at ;around ;E500,000 (£448,434).

Salans chairman Stephen Finch said: “It’s been a pretty satisfactory year this year, but 2009 is less certain. We’ve seen different levels of activity in different groups. Obviously the insolvency, regulation and dispute resolution groups have been very busy. But the corporate and banking departments have seen busier times.”

Salans operates on a ­calendar year basis and last year ditched the dollar and started billing in euros for the first time. Growth has slowed at the firm, which last year posted a revenue hike of 37 per cent.

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