Upbeat Pinsent Masons announces 7.8% PEP growth

International firm Pinsent Masons has announced healthy financial results today, reporting a 14% revenue increase to £605.9m. 

The firm also reported a profit per equity partner growth of 7.8% to £797,000 in the year to 30 April. In 2021-22 the firm reported PEP growth of 16% to £739,000 and turnover up by 6% to £531m.

In other highlights of its statement, the firm said it had exceeded its target of having 20% minority ethnic UK trainees, achieving 21.4%. An all-female leadership team was established across the firm’s Australian three office network following the appointment of Phillipa Beck to Melbourne office head, the firm said.

Senior partner Andrew Masraf said: 'We’ve had a record year of revenue growth during which we focused on harnessing those investments to provide creative and innovative legal services for clients who are grappling with complex issues in challenging economies.'

Laura Cameron, who became the firm’s first female managing partner in May, said: 'Over the last year we’ve made significant progress in building out our multinational, sector-led legal and professional services capabilities, promoting 25 to partner across our business and launching 25 new legal services products. 

'Despite challenging economic circumstances on a global scale, we have continued to advise on high profile mandates that reflect our clients’ strategic priorities, such as ADB on its energy transition mechanism and supporting NatWest on its first sustainability linked asset-based lending facility.'