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17 January 2005
17 January 2005
Profit per equity partner: £255,000
Equity spread: £130,000-£300,000
Net profit: £8.6m
Profit margin: 22 per cent
Salaried partner remuneration: £50,000
Revenue per lawyer: £317,000
Revenue per partner: £578,000
Revenue per equity partner: £1,138,000
Cost per lawyer: £247,000
Profit per lawyer: £70,000
No of partners: 67
No of equity partners: 34
No of female partners: 18
No of female equity partners: 10
Total no of fee-earners (including consultants, paralegals etc): 233
Total no of fee-earners (excluding consultants, paralegals etc): 122
Total no of staff: 440
Leverage ratio: 1:1.81
Equity partner to staff ratio: 1:6.09
Fee-earner to staff ratio: 1:0.89
Financial management: Average WIP 31 days, average debtor days 137, property costs £4.68m, debt £1.7m, full equity partner's capital contributions £180,000.
Equity structure: Modified lockstep. Starting at 40 per cent for the firm's 31 junior partners, to 100 per cent for the firm's 21 senior partners increasing in stages.
Billable hours targets: 1,250 assistants.
Key clients: Berkeley Group, Borealis A/S, Nuffield Hospitals, Manchester City Council, MCL Group, Metropolitan Housing Association, Peabody Trust, Robert Brett & Sons, Ryhurst.
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