|
|
|
| Turnover: |
£30.1m |
| Profit per equity partner: |
£350,000 |
| Earnings per partner: |
£223,000 |
| Equity spread: |
£230,000-£400,000 |
| Net profit: |
£6.6m |
| Profit margin: |
22 per cent |
| Revenue per lawyer: |
£274,000 |
| Revenue per partner: |
£538,000 |
| Revenue per equity partner: |
£1.58m |
| Total number of fee-earners: |
140 |
| Total number of assistants: |
54 |
| Total number of partners: |
56 |
| Total number of equity partners: |
19 |
| Total no of female partners: |
14 |
| Total no of female equity partners: |
2 |
| Total no of staff: |
286 |
| Leverage ratio (equity partners to assistants): |
1:4.8 |
| Representative clients: |
Financial Times,
JP Boden & Co,
Rugby Football Union,
Singer & Friedlander | |
|
*BUY |
FARRER & CO had another year of solid growth, its
eighth consecutive such year. The firm saw turnover
increase by 7.5 per cent to just breach the £30m mark,
while its average PEP increased by a little under 12 per
cent to £350,000. The firm, which regards discretion
as paramount, as some of its private clients include
members of the royal family, operates a 10-year lockstep.
The lockstep has two gateway points for equity partners
to pass through, understood to be at the three and sevenyear
marks. The equity itself is held tightly, with just
19 of the firm’s 56 partners sharing in the profit.
A tight reign on costs and strict management of
working capital and cashflow saw the long-term
resident of Lincoln’s Inn Fields increase net profit by
£1m to £6.6m. The media and private client practices
had a solid year, while the firm picked up new clients
for its estates and private property and sports practices.
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