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| Turnover | £30.7m | | Profit per equity partner | £130,000 | | Equity spread | £95,000-£140,000 | | Net profit | £6.0m | | Profit margin | 19 per cent | | Revenue per lawyer | £182,000 | | Revenue per partner | £590,000 | | Revenue per equity partner | £667,000 | | Total no of fee-earners | 251 | | Total no of assistants | 117 | | No of partners | 52 | | No of equity partners | 46 | | Total no of female partners | 14 | | Total no of female equity partners | 13 | | Total no of staff | 440 | | Leverage ratio (equity partners/fee-earners) | 2.5 | | Representative clients | Axa
Tesco
The National Trust
Zurich Professional
PHS
National Assembly for Wales | |
After the exodus of recent years, Morgan Cole
stabilised things somewhat last year. In 2002, the
firm had 78 partners and revenues of £43.1m. By
2005 this had slumped to 54 partners bringing in
£27m. By the end of the 2005 financial year the
firm had lost just two more partners and boosted
turnover 13.7 per cent to £30.7m, while average
PEP had risen to a slightly more respectable
£130,000.
Client wins in 2004 such as Tesco and Severn
Water suggest that the rot has stopped and that
better times may be ahead for this M4 firm.
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