| Turnover | £67.2m |
| Profit per equity partner | £313,000 |
| Earnings per partner |
£242,000 |
| Equity spread | £180,000-£480,000 |
| Net profit |
£16m |
| Profit margin |
23 per cent |
| Revenue per lawyer | £315,000
|
| Revenue per partner | £789,000 |
| Revenue per equity partner | £755,000 |
| Total number of fee-earners |
279 |
| Total number of assistants |
124 |
| Total Number of partners |
89 |
| Total Number of equity partners |
51 |
| Total number of female partners |
23 |
| Total number of female equity partners |
15 |
| Total number of staff |
551 |
| Leverage ratio (equity partners/fee-earners) |
1:3.2 |
| Representative clients | High-net-worth individuals,
Laboratoires Goemar,
Mastercigars Direct
|
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*HOLD |
Withers, which aims to be the world's leading family and private client boutique, featured in two of the year's highest-profile divorce cases: it acted for Melissa Miller in Miller v Miller (which reached the House of Lords) and for insurance millionaire John Charman (which is subject to an appeal, but is already the largest divorce settlement in English legal history).
Financially, however, Withers had an unsatisfactory year. Although total revenue was up by 11 per cent to £67.2m, and despite its high-profile legal sucesses, PEP fell from £314,000 in 2004-05 to £313,000.
Withers also had mixed fortunes personnel-wise. It snared the head of Eversheds' London employment practice Elaine Aarons, and also picked up corporate tax partner Andrew Terry from the London office of LeBoeuf Lamb Greene & MacRae, but it lost private client partner Jeremy Arnold to Barclays to head its newly created wealth management division.
Withers' remuneration system is entirely merit-based and in the previous year had paid out all of the profit to partners within 12 months. Its lockup at year-end was slightly above its target of 133.8 days at 142.2 days. This consisted of 25.3 days WIP and 116.9 debtor.
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