Forsters results show double digit growth
Forsters has recorded a 13% increase in fees and similar increase in profits in the year to 31 March 2012. Fees were up from £25m to £28m, PEP was up by 11% to £403,000 and EPP (Earnings Per Partner) rose by 14% to £311,000.
Commenting on these results, Forsters' managing partner Paul Roberts said:
"These are excellent results and we are particularly pleased to have achieved double digit growth for the second year in succession. This means that during a two-year period, revenue has increased by 25% and PEP and EPP are both up by over 30%.
In 2011-2012 every part of the business increased fee income with particularly strong growth in the litigation team, which was 30% up and enjoyed its best ever year and also from planning and construction. The property business was up by 15%, which was an impressive performance given a general lack of activity in the property market. Our leading trust practice added more than 8% in revenue and has now grown by over 100% in the last 5 years.
These results have been achieved due to a fantastic roster of clients, many of whom have been particularly active in the last 12 months. Given uncertain market conditions, we are cautious about the prospects for growth in the next 12 months but we are confident about the long-term prospects for Forsters."