Taylor Wessing partners see PEP increase of 4.4 per cent to £455,000

Taylor Wessing today reports a 4.4 per cent increase in its PEP for the financial year 2009/10, up from £435,000 in 2008/09 to £455,000.

The firm's turnover fell slightly to £178 million from £188 million in 2008/09.

Commenting on the figures UK Managing Partner Tim Eyles says: 

"We are very happy with the steady growth in profits that these numbers manifest. They demonstrate a consistent stream of quality work and a strong level of financial control in a difficult market.

"We're seeing encouraging signs of increased activity across the firm, with billing and activity up in the fourth quarter.

"We believe the legal sector is on the brink of huge change. Accordingly, we have focused this year on clarifying our international strategy in terms of industry sector focus and geographies for expansion as well as practice areas of expertise to ensure that we are well positioned to take advantage of the changing market.

"We are continuing to build the firm internationally. The introduction of our Global Key Client Programme will help us deepen our relationships with a number of clients with global presence who have the potential to grow significantly across our international platform; and our newly developed international strategy will ensure that Taylor Wessing’s offering grows in line with our clients' needs, in the territories where the industries in which they operate are growing fastest."

Ends

Lawyers Tim Eyles

Notes to editors

For more information please contact Helen Needham at Taylor Wessing:

DDL + 44 (0) 20 7300 4156

Taylor Wessing LLP is a leading international law firm providing support for commercial organisations doing business in Europe, the Middle East and China.