Top managers at international firm Pinsent Masons shared less than half the payout they received last year, despite an overall rise in profits, latest accounts appear to show.
LLP accounts filed yesterday report that ‘key management compensation’ was £2,440,000 – a 110% decrease on last year’s figure of £5,138,000. The accounts do not say how many partners are in that group.
The highest paid partner was paid £938,000, up 15% on last year’s figure of £810,000. Overall operating profit stood at £119.5m, up from £113.11m last year.
However, the firm said the accounts were for the LLP only and that full figures would appear in accounts for the international LLP.
According to those accounts, which the firm has since sent to the Gazette, ’key management compensation from all group entities’ was £5,951,314m up from £5,138,192m - a 15% rise. The highest paid partner received £1,086,951. Up from £810,490.
Those accounts also show that amounts due to creditors rose in the last financial year from £18.6m to £25.6m (37%).