Pinsent Masons has ring-fenced ‘significant funds’ from partner profits in a bid to prioritise investing in the business, in turn cutting profit per equity partner (PEP) by 5%.
Revenue at the firm for the 2018/19 financial year rose 7% to £482m, slightly ahead of last year’s 6% increase and good for growth of more than 40% over the last five years. Gross profit rose 2.5%, but PEP fell to £620,000 from £653,000 as the firm put aside funds for investment in areas including IT and cybersecurity.
