| Turnover: |
£22.6m |
| Profit per equity partner: |
£505,000 |
| Earnings per partner: |
£262,000 |
| Equity spread: |
£309,000-£776,000 |
| Net profit: |
£7m |
| Profit margin: |
29 per cent |
| Revenue per lawyer: |
£305,000 |
| Revenue per partner: |
£579,000 |
| Revenue per equity partner: |
£1.74m |
| Total number of fee-earners: |
88 |
| Total number of assistants: |
35 |
| Total number of partners: |
39 |
| Total number of equity partners: |
13 |
| Total no of female partners: |
8 |
| Total no of female equity partners: |
1 |
| Total no of staff: |
184 |
| Leverage ratio (equity partners to assistants): |
1:4.7 |
| Representative clients: |
Arazim Investments,
Gertner Family
Charitable Foundation,
KPMG,
MAN Roland,
deon Cinemas,
Platinum Diversified Mining | |
|
*BUY |
FLADGATE FIELDER has enjoyed a reputation as
one of London’s most tightly managed firms for
years and its results for 2005-06 will have done
nothing to alter that. Average PEP smashed through
£500,000 for the first time to £505,000, while the
top of equity at £776,000 was easily one of the top
performers among firms of its size.
The equity is, of course, held tightly at Fladgates, with
just 13 full equity partners out of 39. The firm’s average
EPP is only around half of its PEP, at £262,000.
Remuneration is entirely merit-based. The firm has
no debt and had around £2m in retained profit at the
year-end for investment. The firm’s efficiency with
working capital was also illustrated by Fladgates’
year-end lockup, which stood at 129 days (50 WIP,
79 debtor), beating its target by one day.
Property continues to drive Fladgates, although the
corporatisation of real estate deals helped the corporate
team’s revenue slightly exceed property’s.
|
