Kingsley Napley

Kingsley Napley continued to increase its turnover significantly during 2011–12, posting just shy of a 10 per cent boost from £24.9m to £27.3m. This followed a rise of almost 16 per cent the previous financial year.

Both increases were attributed to strong growth in key practice areas, with dispute resolution, immigration and regulatory all exceeding budgets.

Headline cases for the firm during the year included acting for former News International chief executive Rebekah Brooks and her husband Charlie on charges of perverting the course of justice (partner Stephen Parkinson took the lead).

The London-based firm did see a fall in its average profit per equity partner (PEP) from £435,000 to £400,000. Managing partner Linda Woolley attributed this to increased costs from its heavy investment in infrastructure, which saw the firm expand its total square footage by taking on space in an adjacent office building.

The lower PEP was also due to Kingsley Napley increasing its number of full equity partners, with three fixed-share partners receiving promotions.

The firm’s total amount of borrowing for the last financial year included an additional loan to cover refurbishment. Kingsley Napley is now a year into its 2011-2014 business plan, which focuses heavily on HR and staff retention.

Fladgate’s full-owning partners are remunerated on a merit basis with no lockstep element. A remuneration committee assesses performance every two years. Profit awards are based on overall contributions, but weighted heavily towards rainmaking.