International firm Pinsent Masons this morning became the latest City big hitter to announce strong annual results, with profit per equity partner (PEP) reaching £538,000 in the year ending 30 April 2015, up 32.8% from financial year 13/14.
Global turnover was up 12% to £362.2m, the unaudited results reveal.
The results follow a year of expansion at Pinsents. In March it announced plans to open offices in Sydney and Melbourne, before making up a record 29 partners to take the firm’s partnership to over 400.
However, John Cleland, managing partner, said in a statement: 'This has been an "investment-lite" year by our own recent standards. I would anticipate that over the next year we will make more investments than we did in the year just passed.
'That will start with the launch of our new offices in Sydney and Melbourne, but won’t end there. We’ve made great progress towards our vision of becoming an international leader in the global sectors in which we operate, and these results position us well to move further and faster in that direction.'