DMH Stallard

UK 200 RESULTS 2010

Position:
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):

99
DOWN

20.7
185
117.07
160-335
3
14
127.9
217.4
403.9
1,254.5
162
95
51
17
15
3
265
4.77

DMH Stallard pulled off a coup last September when it announced the arrival of former Freshfields Bruckhaus Deringer finance chief Perry Noble.

The former magic circle partner is now helping spearhead the firm’s efforts in London, where corporate and finance account for 30 per cent of revenue. Those efforts include DMH marketing itself as an alternative to the more established City firms. And the strategy appears to be paying off. The firm has successfully attracted work from an impressive roster of big-name clients, such as EDF Energy, Tesco, RBS and Taylor Wimpey – a strong calling card as it looks to increase its share of FTSE250 clients.

Despite these positive moves, in 2009-10 the firm saw its revenue fall by 10 per cent to £20.7m. However, a high volume of work-in-progress relating to contentious matters, which makes up a quarter of overall turnover, means this figure excludes a large number of ongoing matters.

Net profit and average profit per equity partner held steady at £3m and £185,000 respectively.

UK 200 RESULTS 2009

Position:
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):

87=
SAME

23.1
176
115.1
155 - 335
3
13
138
269
436
1,283
167
86
53
18
13
3
285
3.78

South-east firm DMH Stallard saw its turnover dip from £24m to £23.1m during the 2008-09 financial year. Net profit also headed south from £3.2m to £3m, while average profit per equity partner (PEP) at the firm was £176,000. Partners at the top and bottom of the equity took home £335,000 and £155,000 respectively.

Managing partner Tim Aspinall admitted it was a “difficult” year but said the firm had taken steps early to shift its practice away from developers to litigation and employment.

The 54-partner firm has three categories of partners: full equity, fixed share and salaried. The 17 full equity partners’ profit share is split according to a merit-based system and is determined by a remuneration committee comprised of external members, including the chairman.

In line with DMH Stallard’s strategy of “being a genuine alternative to traditional City firms”, it hired former Freshfields Bruckhaus Deringer finance partner and Asia managing partner Perry Noble.

DMH Stallard’s key clients include Aviva, EDF Energy, London Borough of Croydon, Moss Bros, the Royal Bank of Scotland, Santander and Tesco.