Beachcroft
UK 200 RESULTS 2010
Movement since 2009
Turnover (£M):
Profit per equity partner (£K):
Earnings per partner (£K):
Equity spread (£K):
Net profit (£M):
Profit margin (%):
Revenue per fee-earner (£K):
Revenue per lawyer (£K):
Revenue per partner (£K):
Revenue per equity partner (£K):
Total number of fee-earners:
Total number of qualified lawyers:
Total number of partners:
Total number of equity partners:
Total number of female partners:
Total number of female equity partners:
Total number of staff:
Leverage ratio (fee-earners per equity partner):
UP
131
314
234.46
215-535
24.5
19
133.9
185.0
885.1
1,679.5
978
708
148
78
46
22
1,532
8.08
Beachcroft’s financial success over the past three years has been underpinned by internal investment against a backdrop of modest turnover growth.
During 2009-10 turnover grew by 8.2 per cent to £131m from £121m a year earlier. Since 2005-06, when the firm recorded a turnover of £98m, Beachcroft has grown by a third.
In contrast, the equity partnership at the firm has contracted from 84 to 78 over the same period.
According to Beachcroft senior partner Simon Hodson, this has not been a deliberate ploy, but rather the result of equity partner retirements.
Last year those 78 equity partners earned an average profit share of £314,000.
This compares with 84 equity partners during the 2008-09 financial year earning an average of £301,000.
Beachcroft has traditionally been best known for its core insurance practice, although much of the past year has seen investment into its healthcare offering. This has brought about a geographical rebalancing of the firm. It has tended to focus on the
South in the past, but is now also looking north.
This trend began in November 2008 with the hire of Eversheds healthcare partners David Weatherburn, Paul Taylor and Neil Rowe, who joined the firm with a team of 11 lawyers and a plethora of clients, worth an estimated £4m. The firm launched an office in Newcastle off the back of these hires.
In the past year Beachcroft has reinforced further its healthcare practice in Manchester with the hire of a team from Halliwells, which included partners Christopher Briggs and Simon Wortley.
Beachcroft’s equity spread was £215,000 to a record high of £535,000 last year, an improvement on 2008-09, when the spread ran from £165,000 to £452,000.
Hodson says the improved result was a consequence of discretionary awards being handed out to the firm’s best-performing partners.
UK 200 RESULTS 2009
Movement since 2008
Turnover (£M):
Profit per equity partner (£K):
Earnings per partner (£K):
Equity spread (£K):
Net profit (£M):
Profit margin (%):
Revenue per fee-earner (£K):
Revenue per lawyer (£K):
Revenue per partner (£K):
Revenue per equity partner (£K):
Total number of fee-earners:
Total number of qualified lawyers:
Total number of partners:
Total number of equity partners:
Total number of female partners:
Total number of female equity partners:
Total number of staff:
Leverage ratio (fee-earners per equity partner):
SAME
121.0
301
247.4
165 - 452
25.3
21
147
192
896
1,440
821
631
135
84
44
25
1,338
6.51
WHAT THE FIRM SAYS
Beachcroft LLP is one of the largest national commercial law firms in the UK. With more than 1,500 employees including over 800 lawyers and 140 partners, it provides commercial legal advice and litigation services from seven UK locations - London, Birmingham, Bristol, Leeds, Manchester, Newcastle and Winchester. Working with both national and international organisations, excellent service delivery and in-depth insight into clients' businesses are at the heart of the firm's strategy. The firm delivers integrated legal services to clients in six main industry groups: health & public sector; real estate & construction; financial institutions (including the insurance industry); consumer goods & services; industrial goods & services; and technology & telecommunications.
This year Chambers UK, A Client's Guide to the Legal Profession 2010, recognised 82 Beachcroft partners as leading lawyers with 66 individual rankings in 31 separate practice areas. In Legal 500 2009, a guide to the top 500 lawyers in the UK, the firm received a tier 1 ranking for 21 of its practice areas and tier 2 for a further 14. Beachcroft has recently achieved certification under ISO9001, the quality assurance standard and is also the largest law firm in the country to obtain a silver Investors in People award. The firm is committed to supporting the communities in which it operates through charitable giving, pro bono work and via structured programmes including those operated by Business in the Community and The Prince's Trust.
Last year Beachcroft launched Beachcroft Dublin in the Republic of Ireland specialising in insurance and health, and B2 from Beachcroft in Newport, South Wales, specialising in managing and defending claims on behalf of insurers and the self-insured.
Contact Details:
Claire Wright Head of Corporate Communications 0207 894 6641 cwright@beachcroft.com
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