| Turnover | £64m | | Profit per equity partner | £404,000 | | Equity spread | £200,000-£800,000 | | Net income | £19m | | Profit margin | 30 per cent | | Revenue per lawyer | £306,000 | | Revenue per partner | £821,000 | | Revenue per equity partner | £1,362,000 | | Total no of fee-earners | 219 | | Total no of assistants | 131 | | No of partners | 78 | | No of equity partners | 47 | | Total no of female partners | 19 | | Total no of female equity partners | 11 | | Total no of staff | 469 | | Leverage ratio (equity partners/fee-earners) | 2.8 | | Representative clients | BBC
Channel 4
M&C Saatchi
Minerva | |
It was another eventful year for the ever-entrepreneurial
Olswang as it hiked its average PEP by
an astonishing 30 per cent to £405,000, with
turnover also up by 8.5 per cent to £64m.
This was the first year that profit from the DJ
Freeman property team kicked in, with revenues
from that department up 14 per cent. Next year
should see further growth for the property team.
It acquired the nine-lawyer, £5m-turnover Julian
Holy Solicitors in July 2005, although Holy himself
has retired.
The corporate department also achieved 14 per
cent growth after closing a series of deals for Blackstone
and advising on the Saatchi flotation.
The firm's renowned media, communications
and technology practice had a much flatter year.
The film finance practice was adversely affected by
the Government changing the tax rules on film
production, which did not help matters.
The Thames Valley office also had a quiet year,
but Olswang is making moves to boost the team
with a new chief executive in Reading.
During the year Olswang entered a formal alliance
with 1,100-lawyer US firm Greenberg Traurig. The
UK firm hopes to take advantage of practice group
synergies that include strong real estate, technology
and media practices. Another opportunity for
Olswang may include the film finance expertise of
Greenberg's Swiss office.
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