 Travers Smith Articles For a crude barometer of market activity, you can do worse than Travers Smith. Naturally aligned to UK corporate M&A, the City firm's profitability is closely tied to activity in upper-mid market private equity and the Alternative Investment Market (AIM). Small wonder, then, that year-end results announced by Travers earlier this month have shown growth suffer at the hands of prolonged credit turmoil and tumbling business confidence. Although still a highly profitable outfit - profits per equity partner comfortably outstrips many rivals with a similar income - the firm has nonetheless reported a 7.6% drop in profits to £755,000, down from £817,000 last year. Turnover, meanwhile, has edged up 3% to sit at £81m for the year. 
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