| Turnover: |
£30.8m |
| Profit per equity partner: |
£274,000 |
| Earnings per partner: |
£209,000 |
| Equity spread: |
£150,000-£350,000 |
| Net profit: |
£8.8m |
| Profit margin: |
29 per cent |
| Revenue per lawyer: |
£255,000 |
| Revenue per partner: |
£570,000 |
| Revenue per equity partner: |
£963,000 |
| Total number of fee-earners: |
218 |
| Total number of assistants: |
67 |
| Total number of partners: |
54 |
| Total number of equity partners: |
32 |
| Total no of female partners: |
11 |
| Total no of female equity partners: |
3 |
| Total no of staff: |
442 |
| Leverage ratio (equity partners to assistants): |
1:2.8 |
| Representative clients: |
Cavell Managing Agency,
Freshwater Group,
Portsmouth Football Club,
Reedham Homes,
Rydon
Group,
Wyndeham Press Group |
|
|
*HOLD |
THOMAS EGGAR’S £30.8m turnover reflected a 10
per cent rise on last year’s £27.8m. The firm achieved
a decent 29 per cent profit margin, recording an
average PEP of £274,000, itself a 20 per cent increase
on last year’s £228,000.
However, the rise in PEP is countered by a high
gearing ratio of 30 per cent. This is due to a four-year
investment programme that has included the
refurbishment of the Gatwick office and investment in
IT and in subsidiary businesses, such as the investment
management fund Thesis Asset Management.
Thomas Eggar’s profit is distributed via a lockstep
that was modified two years ago, when all equity
partners were placed on 100 points and were expected
to move up to 130 within three years. A further 20
points are possible on top of that 130 for exceptional
performance, although currently the scheme is too
young for any of the partners to have progressed
beyond the 130 mark.
Decisions on performance are made by a fivepartner
remuneration committee consisting of the
managing partner and the heads of the company
commercial, litigation, private client and property
groups.
|
