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| Turnover | £19.5m | | Profit per equity partner | £225,000 | | Equity spread | £120,000-£300,000 | | Net profit | £3.2m | | Profit margin | 16 per cent | | Revenue per lawyer | £120,000 | | Revenue per partner | £443,000 | | Revenue per equity partner | £1,393,000 | | Total no of fee-earners | 251 | | Total no of assistants | 119 | | No of partners | 44 | | No of equity partners | 14 | | Total no of female partners | 7 | | Total no of female equity partners | 1 | | Total no of staff | 425 | | Leverage ratio (equity partners/fee-earners) | 8.5 | | Representative clients | Actans UK
Hansen
Hardinge
Mowlem
Pittards
Swindon College
Watts Blake Bearn | |
South West firm Ashfords, until last year officially
part of Bevan Brittan, has enjoyed rapid
growth since the demerger, although its
November year-end means its turnover figure of £19.5m
is an estimate.
The tight equity ± just 14 of 44 partners - has
helped the average PEP figure stay high at £225,000.
But a combination of relatively low charge-out rates
(around £190 per hour for senior partners) and
quality corporate deals and clients (such as the multimillion
pound sale of Diamould to Schlumberger
in spring 2005) will give managing partner Simon
Rous confidence that the strategy of organic growth
and cherry-picking laterals such as ex-General
Motors' Lesley Galvin will be a successful one.
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