The global firm confirmed yesterday a 9 per cent lift in revenue and a 1.5 per cent increase in profits per equity partner (PEP) for the financial year ending 30 April 2016. Revenue was up from £145m in fiscal-2015 to £158m last year, while PEP grew from £763,000 per equity partner to £774,000. Growth was considerably slower than the previous financial year; in fiscal-2015, PEP lifted a staggering 45 per cent while revenue was up an impressive 20 per cent, propped up by fee income from several multi-year matters. However, the most recent figures for fiscal-2016 both represent record highs for Stephenson Harwood. Chief executive Sharon White praised the firm for maintaining growth after a bumper year: ‘Our profitability was fantastic last year so I think to have matched that and managed an increase, albeit relatively modest on [2015’s] performance, is quite something so we’re very pleased about that,’ she commented.
Sources: Legal Week; Legal Business
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