The international figures refer to all of the firm’s offices outside the US, including its UK business.
Net profit rose by 2.5 per cent to £159.4m and average profit per equity partner (PEP) increased by nearly 3 per cent to £693,000, still significantly lower than global PEP’s £908,000.
Overhaul
The results come after the firm has for the first time reported its international results based on a financial, rather than calendar, year. It has also overhauled how it calculates equity headcount, now classing as equity partners only those who receive above 300 points, or around £300,000.
Source: The Lawyer
Email your news and story ideas to: [email protected]
