| Turnover | £21.5m | | Profit per equity partner | £210,000 | | Equity spread | £130,000-£220,000 | | Net profit | £4m | | Profit margin | 19 per cent | | Revenue per lawyer | £124,000 | | Revenue per partner | £422,000 | | Revenue per equity partner | £1,132,000 | | Total no of fee-earners | 252 | | Total no of assistants | 122 | | No of partners | 51 | | No of equity partners | 19 | | Total no of female partners | 12 | | Total no of female equity partners | 3 | | Total no of staff | 440 | | Leverage ratio (equity partners/fee-earners) | 6.4 | | Representative clients | GMAC
Barclays Bank
Alfred McAlpine
Punch Taverns
Somerfield
Avon Rubber | |
TLT Solicitors increased both net profit and
headcount this year, although PEP fell slightly as
the firm absorbed the impact of its headline-grabbing
expansion into London.
In May, the Bristol-headquartered firm acquired
niche London banking firm Lawrence Jones, adding
11 partners and around £3m in revenues.
At year-end, turnover for the combined business
had risen 22 per cent to £21.5m, with profit increasing
7.6 per cent to £4.2m. Average PEP, however,
dropped 4.7 per cent to £210,000.
Managing partner David Pester justified the drop
in PEP on the grounds of the ªsignificant investment
in peopleº the firm had made in London.
"Yes, it's had an impact on our figures,º he
said, ªbut we're taking a long-term view of the
expansion."
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