| Turnover: |
£27.5m |
| Profit per equity partner: |
£202,000 |
| Earnings per partner: |
£143,000 |
| Equity spread: |
£130,000-£280,000 |
| Net profit: |
£7m |
| Profit margin: |
24 per cent |
| Revenue per lawyer: |
£201,000 |
| Revenue per partner: |
£466,000 |
| Revenue per equity partner: |
£859,000 |
| Total number of fee-earners: |
195 |
| Total number of assistants: |
78 |
| Total number of partners: |
59 |
| Total number of equity partners: |
32 |
| Total no of female partners: |
10 |
| Total no of female equity partners: |
3 |
| Total no of staff: |
438 |
| Leverage ratio (equity partners to assistants): |
1:3.3 |
| Representative clients: |
Aldi Stores,
Bellway Homes,
E.ON,
Experian,
Polestar | |
|
*HOLD |
FREETH CARTWRIGHT recorded a moderate rise
on its record-breaking financials of last year. Average
PEP grew by 6 per cent, from £190,000 in the 2004-
05 financial year to £202,000 this year.
This year’s turnover hit £27.5m, up 9.5 per cent on
last year’s 25.2m, when the firm broke the £25m
barrier for the first time. The firm turned a respectable
23.4 per cent net profit margin on this.
Although sticking with a principally merit-based
system, the firm recently dumped its seniority weighting
element. With the new system partners are allocated
points on the basis of performance over four years, with
a maximum of 20 points allocated in each year, making
a maximum total of 80. A small bonus pool of 2.5 per
cent of total profit – excluding fixed shares – is also
retained to reward exceptional performance in one year.
New partners are allocated notional points to
introduce them into the equity range and, as each of
the first four years is closed, they are then allocated
points, bringing them into the full profit-sharing
system by their fifth year in the partnership.
|
