International firm Eversheds Sutherland’s non-US arm has announced a bullish hike in profits in its headline annual results.
Profit per equity partner climbed 9% to £886,000 on income up 11% to £548.8m in 2018/19.
Lee Ranson, CEO (pictured), said: ’I am pleased to be able to say that, for the second consecutive year, we have produced a fantastic set of results with revenue ahead of budget again and strong organic growth across all our practice groups and regions. In FY18/19, we invested heavily in new people and offices and it is great to see that investment starting to pay dividends.’
Eversheds Sutherland was formed in early 2017 through the merger of Eversheds and US-based Sutherland Asbill & Brennan, creating a 2,300-lawyer firm. This year’s results continue the strong upturn in profitability since the combination, after Eversheds’ PEP fell by 4% to £726,000 in 2016/17.