| Turnover: |
£28.8m |
| Profit per equity partner: |
£300,000 |
| Earnings per partner: |
£159,000 |
| Equity spread: |
£240,000-£360,000 |
| Net profit: |
£6m |
| Profit margin: |
19 per cent |
| Revenue per lawyer: |
£218,000 |
| Revenue per partner: |
£542,000 |
| Revenue per equity partner: |
£1.6m |
| Total number of fee-earners: |
184 |
| Total number of assistants: |
79 |
| Total number of partners: |
53 |
| Total number of equity partners: |
18 |
| Total no of female partners: |
12 |
| Total no of female equity partners: |
2 |
| Total no of staff: |
506 |
| Leverage ratio (equity partners to assistants): |
1:6.3 |
| Representative clients: |
Alfred McAlpine,
Avon Rubber,
Barclays,
Punch Taverns,
HBOS,
Somerfield Stores | |
|
*BUY |
TLT SOLICITORS saw average PEP shoot up by 42
per cent from last year’s £210,000 to hit £300,000,
while turnover increased to £28.8m, up by 34 per cent
from £21.5m last year.
The turnover rise is partly down to the firm’s merger
last year with 11-partner London boutique Lawrence
Jones, which at the time had a turnover of £3m.
The lion’s share of turnover is generated evenly
between the property, corporate, finance and litigation
groups. Property is the largest at 26 per cent of total
revenue, followed by corporate’s 23 per cent and
finance and litigation, which both chip in 21 per cent.
Profit is distributed via a modified lockstep, with 80
per cent of total profit distributed via a conventional,
100-point lockstep. Partners are expected to reach a
plateau after five years, although a performancerelated
gateway has been introduced at three years. The
system also now includes a new bonus structure. Up
to 10 per cent of profit is distributed for exceptional
performance, with another 3 per cent awarded to
three senior partners for business development.
|
