McGrigors – UK 100

Turnover: £41m (estimated to end September 2004)

Profit per equity partner: £238,000

Equity spread: £140,000-£350,000 (both estimated)

Net profit: £10.4m (estimated to end September 2004)

Profit margin: 25 per cent

Salaried partner remuneration: £110,000-£140,000

Revenue per lawyer: £173,000

Revenue per partner: £788,000

Revenue per equity partner: £932,000

Cost per lawyer: £129,000

Profit per lawyer: £44,000

No of partners: 52

No of equity partners: 44

No of female partners: 10

No of female equity partners: Nine

Total no of fee-earners (including consultants, paralegals etc): 298

Total no of fee-earners (excluding consultants, paralegals etc): 237

Total no of staff: 493

Leverage ratio: 1:4.2

Equity partner to staff ratio: 1:4.43

Fee-earner to staff ratio: 1:0.65

Financial management: WIP at last balance sheet date was 27 days. Debtor days 87. WIP target is 30 days (balance sheet value), 90 days at selling price. Debtor days 70. Overall target, therefore, of 100 days at year-end. Average fixed capital contribution for an equity partner is £55,000.

Equity structure: Merit-based remuneration.

Billable hours targets: 1,400 assistants, 1,300 partners (no change from previous five years).

Key clients: KPMG, HBOS, O2, Royal Bank of Scotland, Royal Mail.