Mixed results for Simmons and Simmons as PEP plummets but turnover increases

Simmons & Simmons's average profit per equity partner fell by 10 per cent last year, from £650,000 to £585,000 last year, though the firm's turnover increased for the fourth consecutive year.

08 July 2016

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Revenue grew by 1.7 per cent, from £290.1m to £295.1m, though net profit fell by 6.2 per cent to £88.8m.

The figures represent a downturn on the previous year for the City stalwart, when turnover increased by 7 per cent and PEP jumped 8 per cent from £553,000.

Managing partner Jeremy Hoyland attributed the drop in profit to the firm increasing its costs, including lawyer salaries and expansions in Munich, Singapore and Bristol.

Source: Legal Business

Mixed results for Simmons and Simmons as PEP plummets but turnover increases

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