| Turnover: |
£18.1m |
| Profit per equity partner: |
£320,000 |
| Earnings per partner: |
£248,000 |
| Equity spread: |
£220,000-£550,000 |
| Net profit: |
£5m |
| Profit margin: |
25 per cent |
| Revenue per lawyer: |
£274,000 |
| Revenue per partner: |
£624,000 |
| Revenue per equity partner: |
£1.29m |
| Total number of fee-earners: |
78 |
| Total number of assistants: |
37 |
| Total number of partners: |
29 |
| Total number of equity partners: |
14 |
| Total no of female partners: |
5 |
| Total no of female equity partners: |
0 |
| Total no of staff: |
153 |
| Leverage ratio (equity partners to assistants): |
1:3.7 |
| Representative clients: |
Conran Holdings,
Daniel Stewart
Securities,
Fairview New Homes,
Monsoon,
X-Leisure | |
|
*HOLD |
Finers Stephens Innocent is edging dangerously close to the dropping off point in The Lawyer's top 100.
In 2004-05 the West End firm was in 98th place. Last year it had dropped one spot to 99th, although its turnover rose by 6.5 per cent, from £17m to £18.1m. Average PEP failed to do as well as that, creeping up by just 5 per cent, from £305,000 to £320,000.
Like many West End firms, Finers is under pressure, not least from increasingly high rents. The end of the lease was the catalyst that saw off one of Finers' competitors, The Simkins Partnership, in November 2005, and property remains an issue for Finers, spread as it is over two offices.
The firm, known for its contentious and non-contentious media practice, has worked to boost corporate during the year. It hired corporate partner Paul Glassberg from Lewis Silkin and posted a 20 per cent rise in revenue from that department. Property, which represents 35 per cent of Finers' practice, remains its largest area, however.
From October Finers' strategy, headquarters and other issues will be for new managing partner Paul Millett to wrestle with after Anthony Barling, managing partner since 2000, steps down.
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