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Fast-growing Garrett & Co and its Scottish associate firm Dorman Jeffrey & Co have revealed their fee income for the first time. Together they earned £14.9m in the year ended August 31, a respectable but not dazzling performance for a Top 100 firm now ranking around 50 in terms of size.
The figures, released by Garretts' parent Arthur Andersen, also show that income from Garretts and Dorman Jeffrey so far accounts for 2.4 per cent of Andersen's total UK revenue, with 48 per cent from Arthur Andersen and around 50 per cent from Andersen Consulting.
With a total of 145 solicitors in the firms, the income per fee earner across them is £102,760. This is similar to Shoosmith & Harrison's reported per-earner income but below other firms of a similar size such as Frere Chomeley Bischoff, which declares £128,440 per fee earner, or Davies Arnold Cooper with £165,714 per fee earner.
But Garretts is growing rapidly and, because all its offices are shared with Arthur Andersen, its overheads are likely to be lower than comparable firms.