Profit per partner up at Pinsent Masons

LAW firm Pinsent Masons has seen its average profit per equity partner rise by 32% to £410,000 despite a drop in annual turnover.

Pinsent Masons, which has an office in Leeds, 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 & 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.”