| Turnover: |
£23.4m |
| Profit per equity partner: |
£240,000 |
| Earnings per partner: |
£180,000 |
| Equity spread: |
£130,000-£260,000 |
| Net profit: |
£7m |
| Profit margin: |
31 per cent |
| Revenue per lawyer: |
£225,000 |
| Revenue per partner: |
£520,000 |
| Revenue per equity partner: |
£780,000 |
| Total number of fee-earners: |
136 |
| Total number of assistants: |
59 |
| Total number of partners: |
45 |
| Total number of equity partners: |
30 |
| Total no of female partners: |
11 |
| Total no of female equity partners: |
0 |
| Total no of staff: |
252 |
| Leverage ratio (equity partners to assistants): |
1:2.5 |
| Representative clients: |
Balfour Beatty Group,
CIS,
Clerical
Medical Investment Group,
Forestry Commission,
HBOS,
Melrose Resources | |
|
*HOLD |
SCOTTISH MIDSIZER Tods Murray enjoyed an 11
per cent rise in revenue last year to £23.4m, boosted
by particularly strong performances in finance,
capital projects and private client.
Tods Murray currently operates three levels of partnership – full equity, fixed-share and salaried –
of which 24 belong to the former. It is considering
shrinking the proportion of full equity partners over
time and reducing the average age of the partnership.
The firm is gradually introducing a higher level of
performance-related criteria to partner remuneration.
In May the partners agreed a new system, under
which equity shares will be assessed over a two-year
period and adjusted by a new remuneration
committee, which was due to be formed during the
current financial year. The new system also includes
a lockstep gateway at three years.
Tods Murray has no debt and no overdraft. The
entire borrowings for the fitout of its new Edinburgh
Quay offices, some £1.4m, were paid off in a single
year.
An estimated £1.6m in turnover brought about by
FRS5 is not included in Tods Murray’s figures.
|
