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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Addleshaw Goddard's profit per equity partner (PEP) has smashed the psychological £400,000 barrier for the first time.
The national firm reported a whopping 25 per cent rise in PEP, from £321,000 to £404,000, with partners at the top and bottom of equity taking home between £585,000 and £180,000.
Meanwhile, Addleshaws' turnover for the 2004-05 financial year increased by 12 per cent, from £125.2m to £139.7m. The firm's finance and projects practice recorded the biggest hike in fee income, rising by 27 per cent to £26.5m. In contrast, Addleshaws' corporate department reported a more modest increase in turnover, jumping by 6 per cent to £26m.
Managing partner Mark Jones told The Lawyer that the increase in profitability is down to the synergies resulting from the merger between legacy firms Addleshaw Booth & Co and Theodore Goddard two years ago. "The merger costs depressed our 2003-04 results," added Jones.
Addleshaws' full-year results come at time when a growing number of firms, including Olswang and Nabarro Nathanson, are now inhabiting the £400,000-plus PEP band.