| Turnover: |
£19.6m |
| Profit per equity partner: |
£185,000 |
| Earnings per partner: |
£108,000 |
| Equity spread: |
£154,000-£257,000 |
| Net profit: |
£2m |
| Profit margin: |
12 per cent |
| Revenue per lawyer: |
£188,000 |
| Revenue per partner: |
£700,000 |
| Revenue per equity partner: |
£1.51m |
| Total number of fee-earners: |
256 |
| Total number of assistants: |
76 |
| Total number of partners: |
28 |
| Total number of equity partners: |
13 |
| Total no of female partners: |
6 |
| Total no of female equity partners: |
1 |
| Total no of staff: |
464 |
| Leverage ratio (equity partners to assistants): |
1:7.0 |
| Representative clients: |
Axa,
Endsleigh Insurance Services,
Garwyn Loss Adjusters,
Liverpool Victoria,
Royal Bank of
Scotland International,
Zurich Financial Services | |
|
*SELL |
Keoghs succeeded in modestly improving average profit last year, growing it by 11 per cent to £185,000, but the firm's margin is still the lowest in the top 100 at just 12 per cent.
The firm increased its total number of partners by one, but added four partners to the equity. Partners are remunerated on a merit-based system, which measures performance every two years and assigns profit accordingly. Last year only one partner was paid at the top of the equity scale, which reached £257,000.
The current financial year will be affected by the closure of the firm's corporate and commercial department at the end of May. There has also been investment in IT and case management systems, which had a knock-on effect on the last year.
In contrast to other firms relying on insurance work, Keoghs' debtor days, at 48, were considerably lower than WIP, at 115 days. This is due to a number of fixed contracts with bulk insurance clients.
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