SJ Berwin has announced its finalised results for the 2006-07 financial year, with average profits per equity partner (PEP) at the City firm up 10% and turnover up 23%.
Partner profits now stand at £782,000, up from a mark of £711,000 last year, while turnover stands at £189m. Last year total fee income at the top 20 City outfit was £155m.
SJ Berwin managing partner Ralph Cohen cited the firm’s Paris and German offices as particularly strong performers over the 12-month period. He also pointed to the corporate and real estate groups as key successes in a buoyant market.
Last year SJ Berwin posted a rise in turnover of more than a quarter (27%), while PEP was up almost 24%.
The latest results – which come after SJ Berwin revised its original billing target from £174m up to £185m after it became apparent the original benchmark would be beaten – mean turnover at the firm has almost doubled in the last three years.
Following provisional figures revealed last month, the firm announced that it was doubling its firm-wide bonus from 2.5% of salary to 5%.
With PEP nearing £800,000, how do SJs' results measure up to City rivals? Have your say with the Legal Week Wiki 2007 results special.
Editors' blog: Paul Hodkinson compares the contrasting financial performances of SJ Berwin and Lawrence Graham over the last five years .
