| Turnover: |
£20.1m |
| Profit per equity partner: |
£246,000 |
| Earnings per partner: |
£246,000 |
| Equity spread: |
£110,000-£300,000 |
| Net profit: |
£6m |
| Profit margin: |
32 per cent |
| Revenue per lawyer: |
£283,000 |
| Revenue per partner: |
£773,000 |
| Revenue per equity partner: |
£773,000 |
| Total number of fee-earners: |
99 |
| Total number of assistants: |
45 |
| Total number of partners: |
26 |
| Total number of equity partners: |
26 |
| Total no of female partners: |
9 |
| Total no of female equity partners: |
9 |
| Total no of staff: |
176 |
| Leverage ratio (equity partners to assistants): |
1:1.7 |
| Representative clients: |
Diageo,
BBC,
British Airways,
Novartis,
Unilever,
Sony Computer Entertainment,
Capgemini | |
|
*HOLD |
WHILE MOST City firms recorded great leaps in
turnover last year, IP specialist Bristows grew by
slightly less than 6 per cent, from £19m to £20.1m.
Profitability hardly fared any better, rising from
£230,000 to £246,000.
All of the firm’s 26 partners are equity, remunerated
on a traditional lockstep system. It takes 10 years for
a partner to reach the current plateau of £300,000
from entry level, which is currently £110,000. Each
year marks a £19,000 step up in take-home pay.
The partnership spread is not very balanced. Around
half of Bristows’ partners are at or near the top of the
lockstep ladder, with seven at or near the bottom. A
handful are at the six-year mark.
The partners at the top take home a 60 per cent chunk
of the firm’s profit, equalling £289,000 each. Bristows
is not considering introducing a bonus scheme to
increase any of its top-earners’ remuneration.
Senior partner and IP legend David Brown retired
in May this year after 40 years with the firm. His feeearning
contribution will be missed. He was replaced
by real estate partner Michael Rowles.
|
