Partner profit at international firm Stephenson Harwood has soared by nearly a quarter on a like-for-like basis, following growth in all practice areas.
Provisional revenue grew 20% to £145m in the year to 30 April, with profit per equity partner up 42% from £537,000 to a record £763,000.
However, in addition to strong growth in 2014/15 the firm said it has benefited from fees paid for several matters where a substantial proportion of work was done in previous financial years. On like-for-like basis the firm’s revenue rose 16% and PEP by 24% to £666,000.
Sharon White, chief executive of Stephenson Harwood, said: ‘We’ve had growth in all our practice areas, with especially strong results in commercial litigation, corporate and real estate. We’ve also grown revenues considerably in London, Greater China, and Dubai in only its second full financial year. Our first set of results for our [new] Seoul office is also encouraging.’
She added: ‘We have taken advantage of more deal activity in the market, seeing the success of the investments made in earlier years and have also had strong performance in our contentious practices.’