| Turnover: |
£40m |
| Profit per equity partner: |
£193,000 |
| Earnings per partner: |
£124,000 |
| Equity spread: |
£120,000-£248,000 |
| Net profit: |
£7m |
| Profit margin: |
17 per cent |
| Revenue per lawyer: |
£169,000 |
| Revenue per partner: |
£620,000 |
| Revenue per equity partner: |
£1.03m |
| Total number of fee-earners: |
291 |
| Total number of assistants: |
172 |
| Total number of partners: |
65 |
| Total number of equity partners: |
39 |
| Total no of female partners: |
18 |
| Total no of female equity partners: |
12 |
| Total no of staff: |
505 |
| Leverage ratio (equity partners to
assistants): |
1:5.1 |
| Representative clients: |
Bupa,
London Development Agency,
Sir Robert McAlpine,
Zurich Financial Services |
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*BUY |
The second year since its demerger proved tougher financially for Bevan Brittan than the first, with average PEP taking a dive.
PEP dropped by 7.7 per cent to £193,000, compared with £209,000 the previous year; this despite the fact that the firm had eight fewer equity partners in the 2005-06 financial year. The firm admitted to managing out some partners because of poor performance, while others retired.
EPP was a measly £124,000 for its 65-strong partnership. Turnover grew by 7.2 per cent to £40m, up from £37.3m.
Bevan Brittan has a modified lockstep. Partners move up the lockstep if they perform above a certain level of expectation in any one year. If a partner performance is rated as just satisfactory, the partner stays put; if it is below satisfactory, the partner will move down the lockstep and will be asked to leave the firm if this occurs more than three years in a row.
The firm also has fixed-share partners. Laterals brought in to the firm always begin as fixed-share partners before eventually moving into the equity.
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