Blake Lapthorn

Turnover (£m): 44.3
Average PEP: 138
Equity spread (£k): 117-158
Profit margin (%): 14
RPL (£k): 194

Blake Lapthorn has successfully continued to grow net profit, boosting it from £5.9m to £6.2m last year and providing for an ­average profit per equity partner hike of 19 per cent to reach £138,000.

This is attributable in part to a reduction in costs following a drop in headcount by 6 per cent, despite not completing any formal redundancies. Partner headcount has
fallen from 101 to 96, while the equity ­partnership stands at 45 compared with 51 the previous year. In the past year profit shares ranged from £117,000 to £158,000.

The firm has embarked on a recruitment spree into key areas of growth, investing in an aviation finance team into its London office and looking to bring in a team of eight lawyers into social housing. It has also looked to bulk up employment with a team of three and has boosted the ­agricultural and rural department with the ­appointment of senior solicitor Nicola Boaden.

A four-person board, made up of ­managing partner Walter Cha, the chief ­operating officer and two non-executive members, manages the firm. A separate ­remuneration committee handles the merit-based element of the firm’s modified lockstep system.