Profits rose 8% at commercial firm Nabarro to £34.1m in 2013/14, on flat turnover of £116.7m, the firm announced today.
Profit per equity partner is expected to increase 10.5% to £475,000. Last year PEP rose 30% to £430,000 compared with 2011/12, while turnover rose 2.5% to £116.1m.
Graham Stedman (pictured), senior partner at Nabarro, said: ‘We have made important investment decisions to support long-term growth of the firm in line with our strategy to increase our international work and invest in our key sectors.
‘Profitability is an important measure and it is good to see us continuing to make progress on that front as well as recording a healthy increase in PEP for the second successive year.’
In 2013/14 the firm opened an office in Dubai, its second international base after Singapore, and an office in Manchester to ‘capitalise’ on the city’s growing real estate market.
The firm also won places on a number of new panels including: BUPA, Lloyds Banking Group, Lafarge Tarmac and Aviva Investors.