| Turnover: |
£29.4m |
| Profit per equity partner: |
£310,000 |
| Earnings per partner: |
£209,000 |
| Equity spread: |
£190,000-£325,000 |
| Net profit: |
£7.2m |
| Profit margin: |
24 per cent |
| Revenue per lawyer: |
£204,000 |
| Revenue per partner: |
£684,000 |
| Revenue per equity partner: |
£1.23m |
| Total number of fee-earners: |
169 |
| Total number of assistants: |
101 |
| Total number of partners: |
43 |
| Total number of equity partners: |
24 |
| Total no of female partners: |
7 |
| Total no of female equity partners: |
2 |
| Total no of staff: |
300 |
| Leverage ratio (equity partners to assistants): |
1:5 |
| Representative clients: |
English Heritage,
Merseytravel,
P&O
Ports,
St John Ambulance,
Thames Water | |
|
*BUY |
BIRCHAM DYSONBell has set itself a goal of breaking
into the top half of the UK 100 within three years. With
that in mind, it was relatively satisfied with its results
for 2005-06, which saw turnover hit £29.4m and
average PEP break through the £300,000 mark.
The real estate and the parliament agents/projects
practices were the top performers, while securing in
excess of 100 of the 300-plus objectors to the Crossrail
bill as clients was a significant boon for the firm.
Birchams takes a small percentage (typically
between 3 per cent and 5 per cent) of the firm’s net
profit for a bonus pool, which is distributed to all
partners, both salaried and equity. The firm saw its
net profit rise by 30 per cent to £7.2m last year,
while PEP rose by 35 per cent to £310,000.
The firm operates a short lockstep of just four years.
More than half of the firm’s partners are in the equity,
with entry to the lockstep last year starting at £190,000.
Accession through the lockstep is all but guaranteed
for partners, but the firm’s partnership board retains
the discretionary power to adjust a partner’s position.
The firm decided to abolish billable hours targets
for both partners and associates last year in a bid to
instil a culture of focusing on financial awareness
rather than on hours.
|
