Partners profit at Pinsents as revenues drop

LAW firm Pinsent Masons has seen its average profit per equity partner rise by 32% despite a drop in annual turnover.

The firm, which has an office in Manchester, saw turnover for the financial year to April 30 drop by 4% to £206m.

Average profit per equity partner was £410,000, 32% higher than last year’s £310,000.

Pinsent Masons’ managing partner David Ryan said: “Our results reflect a spirited and determined performance by everyone in the business.

“In a tough climate, we not only made real progress but also made some important, strategic investments – particularly in life sciences and Islamic finance – which augur well for this year.

“There were some stand out performances in many areas of our business – most notably international arbitration, our Gulf operations, restructuring and pensions, and outsourcing, technology and commercial. Many other businesses held their own.

“We are confident that there is more progress to be made this year, along with sizeable investment in our major new London HQ.”