|
|
|
| Turnover: |
£31.5m |
| Profit per equity partner: |
£280,000 |
| Earnings per partner: |
£218,000 |
| Equity spread: |
£60,000-£825,000 |
| Net profit: |
£11.5m |
| Profit margin: |
37 per cent |
| Revenue per lawyer: |
£182,000 |
| Revenue per partner: |
£534,000 |
| Revenue per equity partner: |
£768,000 |
| Total number of fee-earners: |
246 |
| Total number of assistants: |
114 |
| Total number of partners: |
59 |
| Total number of equity partners: |
41 |
| Total no of female partners: |
10 |
| Total no of female equity partners: |
5 |
| Total no of staff: |
421 |
| Leverage ratio (equity partners to
assistants): |
1:3.2 |
| Representative clients: |
Astral Developments,
Bank of Scotland,
BT,
Central Telecom UK,
George Wimpey,
Titan Europe |
|
|
*HOLD |
The first financial results for HBJ Gateley Wareing showed a turnover that, at £31.5m, was 9 per cent higher than the £29m first predicted for the post-merger firm.
The firm is the result of the January 2006 merger between Midlands-based Gateley Wareing and Scottish firm Henderson Boyd Jackson. Prior to the merger the two firms brought in £10.5m and £17.1m respectively, meaning that 2005-06's turnover figure is also up by a healthy 14 per cent on their pre-merger total. More notably, partners are toasting an average PEP of £280,000, up by 40 per cent on the £160,000 at the pre-merger Gateley Wareing.
The high profit stems from a considerable 37 per cent profit margin at the new firm. The impact of FRS5 and the corresponding accounting adjustment at HBJ Gateley Wareing led to a 10 per cent one-off uplift in both turnover and PEP last year.
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