Capsticks
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
26.4
455
262.86
256-564
7
27
164.0
235.7
754.3
1,650.0
161
112
35
16
8
4
274
6
Healthcare specialist Capsticks, the winner of this year’s Niche Firm of the Year at The Lawyer Awards, continued on its ambitious and highly successful growth strategy last year.
That strategy has seen Capsticks expand significantly over the past couple of years, with new offices in Birmingham and this year in London.
True to its public service-focused ethos, the firm plumped for the lower-cost (around £35 per sq ft) outskirts of Greater London – in Wimbledon rather than the City – to avoid the higher rents. The firm’s health-related national client base means it has no need of a Central London or City berth.
One developing business line for Capsticks is regulatory, where the firm has branched out from its health-related client base to advise clients such as the Solicitors Regulation Authority.
The firm’s largest practice area by revenue, though, is litigation, which last year generated 43 per cent of total fee income.
Total turnover was up by 14 per cent, from £23.1m to £26.4m, while average profit per equity partner also rose, by 3 per cent, to £455,000. Net profit stayed static at £7m, as did the total number of equity partners at 16.
Capsticks operates a modified five-year lockstep remuneration system with a significant (40 per cent) bonus element built in.
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):
UP
23.1
441
264.7
238 - 620
7
30
156
218
679
1,444
148
106
34
16
10
5
246
5.63
Capsticks was a new entry into The Lawyer UK 200 top 100 last year after its revenue rose 18.5 per cent from £19.5m to £23.1m.
The core business of Capsticks is healthcare, both in the public and private sector. Last year that was a profitable business, although the firm was slightly outside the top 100 when measured by revenue per lawyer – it came 103rd with £218,000.
Average profit per equity partner (PEP) stood at £441,000 at the end of the 2008-09 financial year with net profit at £7m, distributed among the firm’s 16 equity partners, out of a total of 34.
The firm advises more than 200 NHS, regulatory, voluntary and private sector healthcare organisations, including the Department of Health, the General Dental Council, the Nursing & Midwifery Council, Nuffield Health Hospitals and the Terrence Higgins Trust.
Capsticks has offices in London and Birmingham.
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