| Turnover | £53.5m |
| Profit per equity partner | £419,000 |
| Earnings per partner |
£393,000 |
| Equity spread | £155,000-£740,000 |
| Net profit |
£22m |
| Profit margin |
41 per cent |
| Revenue per lawyer | £318,000 |
| Revenue per partner | £910,000 |
| Revenue per equity partner | £1.01m |
| Total number of fee-earners |
184 |
| Total number of assistants |
109 |
| Total Number of partners |
59 |
| Total Number of equity partners |
53 |
| Total number of female partners |
8 |
| Total number of female equity partners |
6 |
| Total number of staff |
357 |
| Leverage ratio (equity partners/fee-earners) |
12.2 |
| Representative clients | Government of India,
Lloyds Leasing,
Norsk Hydro,
Royal Bank of Scotland,
Talisman Malaysia
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*HOLD |
Revenue at Watson Farley & Williams broke through £50m for the first time during the last financial year. Gross fees jumped by 9.5 per cent, from £49m to £53.5m, while average PEP at the shipping, energy and finance firm also hit a benchmark figure, breaking £400,000 to reach £419,000.
The 7.4 per cent increase in PEP is lower than figures reported by a number of firms in 2005-06. However, unlike an increasing number of firms, Watson Farley's partnership is almost entirely full equity, creating a dampening effect on the overall average.
Watson Farley operates a managed lockstep with 14 steps. The presumption is that partners will move one step every year. However, partners can be moved down the ladder or held stationary at the senior partner's discretion. There is also the flexibility to accelerate partners up the ladder.
London generates 72 per cent of revenue, while New York and Singapore are the next-largest contributors, at 7 per cent and 6 per cent respectively.
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