UK 200 position: 164
Real estate and construction specialist Maxwell Winward put in a strong performance in 2011–12. Turnover was up by nearly 8 per cent, from £10.3m in 2010–11 to £11.1m in 2011–12, and net profit rose by 12.2 per cent, from £2.9m to £3.3m. The firm is yet to regain the ground it has lost since the downturn, however. Turnover in 2008-09 stood at £11.6m.
That said, average profit per equity partner leapt by 55 per cent in 2011–12, from £268,000 to £414,000. This figure will have been boosted by a drop in the number of equity partners, from 11 to eight over the course of the year. The average number of partners at the firm remained broadly static at 21.
Construction remains Maxwell Winward’s biggest department, accounting for 34 per cent of total revenue, followed closely by property at 29 per cent.
The firm’s own property costs come to £770,000 for 18,150sq ft of office space near St Paul’s in the City.
The firm has a £67,000 in borrowings. Maxwell Winward’s lockup is 101 days, just shy of its 100-day target, but still tight.
Overview100 Ludgate Hill
Turnover (£m): 11.1
Total lawyers: 38