| Turnover | £66.7m | | Profit per equity partner | £360,000 | | Equity spread | £210,000-£430,000 | | Net income | £18.4m | | Profit margin | 28 per cent | | Revenue per lawyer | £228,000 | | Revenue per partner | £725,000 | | Revenue per equity partner | £1,308,000 | | Total no of fee-earners | 352 | | Total no of assistants | 200 | | No of partners | 92 | | No of equity partners | 51 | | Total no of female partners | 17 | | Total no of female equity partners | 6 | | Total no of staff | 644 | | Leverage ratio (equity partners/fee-earners) | 3.9 | | Representative clients | Evolution Beeson Gregory
Torex
Vodafone
3i | |
The last two years have seen Osborne Clarke
knuckle down and get its out-of-kilter costs base
under control. Salaries, at a firm that had been
growing at 25 per cent per annum, were a major
problem, but this has been addressed. Working capital
management has also been improved, while
almost £9m of debt has been wiped out.
Budgeted growth for the next year is between 6
and 10 per cent, exactly where it was this year, with
fee income rising from £64.6m to £67m. Profit is
also up significantly, from £303,000 to £360,000.
The firm has done well to win a larger share of
work from some of its key clients, notably Vodafone
and US software business IDX. It also had a good
run from Torex, beginning with the £702m takeover
by iSoft and continuing with two AIM deals for Torex
Retail. Osborne Clarke remains known as a technology-
centred firm, but increasingly marketing
services, retail and energy are major contributors.
The firm also opened a three-partner office in
Munich, bringing some £2m of additional revenue.
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