Profit per equity partner up at Eversheds

LAW Firm Eversheds announced a 7% increase in profit per equity partner of £555,000 despite the fact that revenues for the year remained flat at £355m.

The practice, which has a major office in Leeds, said that its commercial litigation practice grew by 21%, financial services grew by 10% and its competition and regulatory department saw revenues climb by 34%. Its real estate division also displayed signs of a comeback with an 11% growth in revenues.

The firm’s chief executive, Bryan Hughes, described the results as “very solid”.

“Whilst revenues were flat, the continuing trend of rising profits, coupled with a very favourable cash position emphasises the robustness of the business.

“What is particularly pleasing is that we are achieving significant profitable growth in a number of our strategic growth areas.

“No one is yet calling the end of the recession, however, we are hopeful that we are through the worst and are confident about the next 12 months and the strength of our business.”