| Turnover | £44.2m | | Profit per equity partner | £278,000 | | Equity spread | £164,000-£335,000 | | Net profit | £10.3m | | Profit margin | 23 per cent | | Revenue per lawyer | £199,000 | | Revenue per partner | £559,000 | | Revenue per equity partner | £1,195,000 | | Total no of fee-earners | 271 | | Total no of assistants | 143 | | No of partners | 79 | | No of equity partners | 37 | | Total no of female partners | 20 | | Total no of female equity partners | 10 | | Total no of staff | 500 | | Leverage ratio (equity partners/fee-earners) | 3.9 | | Representative clients | North Cumbria Acute Hospitals NHS Trust
Helen McArdle Care
Helical Bar
Bank of Scotland
Leeds Teaching Hospitals NHS Trust | |
Trowers & Hamlins changed its financial reporting
period late in 2004 from a calendar year to
March, bringing it in line with the majority of its
clients and reaping both a commercial and tax benefit.
However, despite the 14-month financial year
for 2004-05, the published figures are annualised.
The financial results were healthy all round for
Trowers. Average PEP hit a record £278,000, turnover
was up to £44.2m, while end-of-year work in
progress was at a remarkable two days.
Real estate forms the largest part (41 per cent)
of Trowers' practice, although unusually that
includes a significant amount of work for social
housing clients such as the Peabody Trust. Teesland
is another major real estate client.
Meanwhile, the Middle East practice has had a
cracking year with growth all round, particularly
in Dubai, where the office has doubled in size over
the year. It also provided The Lawyer's Finance Team
of the Year at this year's The Lawyer Awards. In
total, instructions from clients such as Kuwait
Finance House and Emirates Telecommunications
provides some 14 per cent of Trowers' revenue.
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