| Turnover: |
£29.3m |
| Profit per equity partner: |
£170,000 |
| Earnings per partner: |
£150,000 |
| Equity spread: |
£102,000-£221,000 |
| Net profit: |
£6.8m |
| Profit margin: |
23 per cent |
| Revenue per lawyer: |
£199,000 |
| Revenue per partner: |
£563,000 |
| Revenue per equity partner: |
£733,000 |
| Total number of fee-earners: |
212 |
| Total number of assistants: |
95 |
| Total number of partners: |
52 |
| Total number of equity partners: |
40 |
| Total no of female partners: |
15 |
| Total no of female equity partners: |
14 |
| Total no of staff: |
385 |
| Leverage ratio (equity partners to assistants): |
1:2.7 |
| Representative clients: |
Axa,
National Assembly for Wales,
Nursing and Midwifery Council,
PHS Group,
Tesco,
Zurich
Professional | |
|
*SELL |
WALES-BASED Morgan Cole was among the few
firms to record a slump in turnover last year, although
it did succeed in beefing up the bottom line.
Average PEP hit £170,000, up by an impressive 30
per cent on last year’s £130,000. Turnover, however,
was down by 5 per cent, from £30.7m last year to £29.3m this year. The firm pointed to a reduction in
costs and an increase in rates as the cause of its
higher profit margin of 23 per cent.
The failure of gross fees to match profit was largely
down to the fact that the typically big-hitting groups,
such as property and corporate, are relatively small beer
at Morgan Cole. They bring in 15 and 9 per cent of total
turnover respectively, with just eight and five out of the
total 52 partners in those practice areas.
Far and away the biggest group is the firm’s
insurance, health and regulatory team. This brings
in more than 60 per cent of total turnover and
employs 35 partners and, although less susceptible
to the vagaries of the corporate market, it is also less
likely to benefit in a boom.
|
