| Turnover: |
£21m |
| Profit per equity partner: |
£295,000 |
| Earnings per partner: |
£246,000 |
| Equity spread: |
£140,000-£340,000 |
| Net profit: |
£7.4m |
| Profit margin: |
35 per cent |
| Revenue per lawyer: |
£190,000 |
| Revenue per partner: |
£620,000 |
| Revenue per equity partner: |
£840,000 |
| Total number of fee-earners: |
149 |
| Total number of assistants: |
76 |
| Total number of partners: |
34 |
| Total number of equity partners: |
25 |
| Total no of female partners: |
6 |
| Total no of female equity partners: |
0 |
| Total no of staff: |
249 |
| Leverage ratio (equity partners to assistants): |
1:3.4 |
| Representative clients: |
BAA Scotland,
B&Q,
Credit Suisse
First Boston,
Heart of Midlothian Football Club,
Prestbury
Investment Holdings, Zara | |
|
*BUY |
SCOTTISH FIRM Brodies enjoyed a standout 2005-
06, which saw two major acquisitions either sealed
or announced. In November 2005 it picked up a
five-partner property team from the dissolving Fyfe
Ireland, while on 7 August 2006 it acquired sevenpartner
firm Bishops. The latter gave Brodies an
office in Glasgow for the first time and underlined the
increasing importance of the practice area to the
firm as a whole (it contributed 34 per cent, or £7.2m,
of total revenue).
The acquisitions underlined an impressive year
financially for Brodies. Average PEP rose by 22 per
cent to £295,000, turnover grew by 15 per cent to
£21m, while RPL rose by 23 per cent, from £155,000
to £190,000.
The firm runs a five-year modified lockstep that
runs from 60 to 100 points. New partners spend two
to three years on fixed shares before moving on to a 60
per cent profit share and moving up to plateau at 10 per
cent a year.
Brodies has cleared an overdraft in recent years
and 2005-06 was its second consecutive year of
no debt.
|
