| Turnover: |
£51.5m |
| Profit per equity partner: |
£273,000 |
| Earnings per partner: |
£236,000 |
| Equity spread: |
£150,000-£450,000 |
| Net profit: |
£13m |
| Profit margin: |
25 per cent |
| Revenue per lawyer: |
£184,000 |
| Revenue per partner: |
£770,000 |
| Revenue per equity partner: |
£1.07m |
| Total number of fee-earners: |
355 |
| Total number of assistants: |
213 |
| Total number of partners: |
67 |
| Total number of equity partners: |
48 |
| Total no of female partners: |
14 |
| Total no of female equity partners: |
12 |
| Total no of staff: |
585 |
| Leverage ratio (equity partners to assistants): |
1:4.8 |
| Representative clients: |
BP,
HBOS,
KPMG,
02,
Royal Bank of Scotland,
Scottish Power |
|
|
*SELL |
It was a momentous year for McGrigors, at least as far as the Scottish firm's north of the border operations were concerned.
McGrigors' financial year ends in September, so, unlike other firms in the UK 100 Annual Report 2006, it was still ongoing at press time. But whatever might have happened in the past few weeks is unlikely to have beaten McGrigors' coup in January 2006. This was when it raided Aberdeen heavyweight Ledingham Chalmers, making its debut in the city to rank alongside Shepherd & Wedderburn and Maclay Murray & Spens. The deal saw some 25 lawyers and around a dozen partners, including highly respected oil and gas head Bob Ruddiman, join McGrigors.
It was the high point of a year that saw McGrigors smash through the £50m turnover barrier to £51.5m (provisional figures), a rise of 13 per cent. Average PEP increased by 14 per cent, from £240,000 to £273,000.
McGrigors operates an entirely merit-based remuneration system and expects to have no debt at year-end. Its average lockup last year was 161 days, dropping to 144 (68 days WIP, 76 debtors) at year-end.
|
