The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
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.
Leeds firm Booth & Co has continued its policy of financial openness by publishing details of partners' minimum salaries in its annual review.
The 41-partner practice's previous review broke new ground by publishing the accounts of a solicitors' practice for the first time.
But as well as detailing Booths' 1995 to 1996 profit and loss account and balance sheet, this year's review also reveals that its partners each set themselves a "notional" minimum salary, pension and benefit package of £90,000 a year.
In 1994 to 1995 the partners not only covered their notional salaries but also made a surplus of £1.9m, which this year increased to £2.6m.
Booths managing partner Mark Jones explained that the surplus would not be divided equally among the partners. He said it would be divided on a "profit points scoring basis".
The partners have also increased their capital accounts by £893,000 to allow for additional investment in the firm. These funds cannot be drawn out until they either retire or die.
This year's figures show:
turnover up by 10 per cent to £22.3m;
pre-tax profits up by 25 per cent up to £6.3m;
profitability up to 28 per cent from 25 per cent; and
borrowings down by 45 per cent to £1m from £1.9m a year ago.