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17 January 2005
14 January 2005
17 January 2005
Profit per equity partner: £291,000
Equity spread: £200,000-£450,000
Net profit: £12.5m
Profit margin: 38 per cent
Salaried partner remuneration: £70,000
Revenue per lawyer: £165,000
Revenue per partner: £488,000
Revenue per equity partner: £1,022,000
Cost per lawyer: £102,000
Profit per lawyer: £63,000
No of partners: 67
No of equity partners: 32
No of female partners: 14
No of female equity partners: Two
Total no of fee-earners (including consultants, paralegals etc): 241
Total no of fee-earners (excluding consultants, paralegals etc): 198
Total no of staff: 454
Leverage ratio: 1:2.55
Equity partner to staff ratio: 1:6.66
Fee-earner to staff ratio:1:0.88
Financial management: Lockup target 203 days, achieved 139 (average WIP at year-end was 59 days, with 80 debtor days). Work profile by revenue is litigation 80 per cent, others 20.
Equity structure: Modified lockstep. There is a set top and bottom of equity, but there are no set values for increases.
Billable hours targets: 1,000-1,300 partners.
Key clients: Ace, AIG, Exel, Network Rail, NHS Litigation Authority, Zurich.
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