| Turnover |
£181.3m |
| Profit per equity partner | £476,000 |
| Earnings per partner |
£476,000 |
| Equity spread | £220,000-£555,000 |
| Net profit | £62m |
| Profit margin | 34 per cent |
| Revenue per lawyer | £297,000 |
| Revenue per partner |
£1.39m |
| Revenue per equity partner | £1.39m |
| Total number of fee-earners |
835 |
| Total number of assistants |
481 |
| Total Number of partners |
130 |
| Total Number of equity partners |
130 |
| Total number of female partners |
21 |
| Total number of female equity partners |
21 |
| Total number of staff |
1,496 |
| Leverage ratio (equity partners/fee-earners) |
1:3.7 |
| Representative clients | Halliburton Company,
Lloyds TSB,
Pfizer,
Taylor Woodrow,
Wellcome Trust
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*HOLD |
Although CMS Cameron McKenna has never been a firm to shout about what it has been up to, its figures point to a profitable past 12 months.
Turnover increased by 11 per cent to £181.3m in 2005-06, up from £161.1m. Partners at the bottom and top of equity bagged £220,000 and £555,000 respectively, rises of 19 per cent and 21 per cent.
Average PEP fell short of the £500,000 benchmark at £476,000, but still increased by a healthy 24 per cent on last year's £384,000. The figure is in line with some of its midmarket rivals such as Simmons & Simmons and Addleshaw Goddard, but as Camerons is also one of the few in the top 100 to operate a full equity partnership, the figures are all the more impressive.
No adjustment needs to be made to factor in rafts of salaried or fixed-share partners, which means the firm's average EPP figure (also £476,000) stacks up particularly well (for comparison, Simmons' is £350,000 and Addleshaws' is £360,000).
Managing partner Dick Tyler puts the strong results down to a combination of higher charge-out rates and higher levels of activity generally.
Central and Eastern Europe was a strong jurisdiction and was enhanced by its merger with 50-lawyer firm Hayhurst Robinson at the start of 2006.
Costs remained fairly static this year, although associate salaries saw large increases in line with other firms in the market. First-year salaries rose by 8 per cent from £50,000 to £54,000. All staff were also handed a 6.05 per cent bonus on their annual salary because the firm exceeded its budget target. The bonus pool is separate to the profit available to partners.
Camerons operates a full-equity partnership. Its eight-year lockstep runs from 28 to 70 points, with partners moving up the lockstep by the same percentage each year. The firm has 79 partners at the top of equity, which is 61 per cent of the partnership.
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