Profit per equity partner: £175,000
Equity spread: £110,000-£230,000
Net profit: £6.1m
Profit margin: 35 per cent
Salaried partner remuneration: £80,000-£100,000
Revenue per lawyer: £158,000
Revenue per partner: £435,000
Revenue per equity partner: £527,000
Cost per lawyer: £103,000
Profit per lawyer: £55,000
No of partners: 40
No of equity partners: 33
No of female partners: Eight
No of female equity partners: Five
Total no of fee-earners (including consultants, paralegals etc): 130
Total no of fee-earners (excluding consultants, paralegals etc): 110
Total no of staff: 256
Leverage ratio: 1:2.12
Equity partner to staff ratio: 1:3.82
Fee-earner to staff ratio: 1:0.97
Financial management: Lockup target 136 days (91 days WIP and 45 debtor days), achieved 232 at year-end (WIP 163 days, 69 debtor days). Figures include a ‘minor’ adjustment for FRS5. Practice profile by revenue is corporate 28.2 per cent, finance 24.3, litigation 7.3, property 38.4 and employment 1.8.
Equity structure: Lockstep with discretionary bonus and five steps to plateau.
Billable hours targets: 1,200 partners.
Key clients: Catalyst Capital, Clerical Medical, Clydesdale Bank, HBOS, Hermes Project Asset Management, Thus plc.