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14 January 2005
17 January 2005
14 January 2005
Profit per equity partner: £345,000
Equity spread: £208,000-£500,000
Net profit: £31.4m
Profit margin: 36 per cent
Salaried partner remuneration: £90,000-£120,000, fixed-share remuneration
Revenue per lawyer: £245,000
Revenue per partner: £831,000
Revenue per equity partner: £959,000
Cost per lawyer: £157,000
Profit per lawyer: £88,000
No of partners: 105
No of equity partners: 91
No of female partners: 32
No of female equity partners: 32
Total no of fee-earners (including consultants, paralegals etc): 436
Total no of fee-earners (excluding consultants, paralegals etc): 357
Total no of staff: 830
Leverage ratio: 1:2.77
Equity partner to staff ratio: 1:4.33
Fee-earner to staff ratio: 1:0.9
Financial management: Average WIP 41 days, average debtor days 63. No long-term debt, although working capital occasionally dips into overdraft.
Equity structure: Modified lockstep.
Billable hours targets: 1,500 assistants, 1,250 partners.
Key clients: Collins Stewart, DTI, Hammerson, HSBC, Land Securities, Siemens.
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