| Turnover: |
£19.3m |
| Profit per equity partner: |
£190,000 |
| Earnings per partner: |
£121,000 |
| Equity spread: |
£175,000-£195,000 |
| Net profit: |
£3m |
| Profit margin: |
16 per cent |
| Revenue per lawyer: |
£107,000 |
| Revenue per partner: |
£460,000 |
| Revenue per equity partner: |
£1.21m |
| Total number of fee-earners: |
144 |
| Total number of assistants: |
139 |
| Total number of partners: |
42 |
| Total number of equity partners: |
16 |
| Total no of female partners: |
9 |
| Total no of female equity partners: |
2 |
| Total no of staff: |
268 |
| Leverage ratio (equity partners to assistants): |
1:10.3 |
| Representative clients: |
Costain Group,
Bournemouth
University,
De Montfort University,
Homeserve,
National Grid,
nPower | |
|
*SELL |
Martineau Johnson's turnover inched up by just 0.5 per cent in the last financial year, hitting £19.3m after 2004-05's £19.2m.
However average PEP managed a 12.5 per cent increase, from £180,000 to £190,000.
Profit was boosted when the firm received an initial £2m rent-free period as part of its move to One Colmore Square in September 2004.
However, the firm received a further £1.7m in October 2004, after a covenant stipulating that Martineaus would be the sole law firm on the premises was broken by the arrival of Cobbetts in 2004. Without these two major cash injections, PEP is likely to have been closer to £160,000.
The firm runs a short lockstep, in which 13 of the 16 equity partners are on parity at £195,000, with the remaining three earning between £175,000 and £195,000. However, a greater challenge for lawyers at the firm is getting on the lockstep at all - the firm has 42 partners in total, of which only 16 are full equity.
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