Wragge & Co – UK 100

Turnover: £79.3m

Profit per equity partner: £208,000

Equity spread: £100,000-£365,000

Net profit: £23.3m

Profit margin: 29 per cent

Salaried partner remuneration: None

Revenue per lawyer: £190,000

Revenue per partner: £678,000

Revenue per equity partner: £678,000

Cost per lawyer: £134,000

Profit per lawyer: £56,000

No of partners: 117

No of equity partners: 117

No of female partners: 26

No of female equity partners: 26

Total no of fee-earners (including consultants, paralegals etc): 550

Total no of fee-earners (excluding consultants, paralegals etc): 418

Total no of staff: 1,009

Leverage ratio: 1:2.57

Equity partner to staff ratio: 1:3.92

Fee-earner to staff ratio: 1:0.83

Financial management: Lockup target 100 days, achieved 99 (average WIP 31 days, average debtors 68). Partners’ capital contribution £100,000-£300,000. Wragges has no debt, but £10m of credit.

Equity structure: Merit-based. Remuneration determined by profit-sharing committee of senior partner, managing partner and three elected members.

Billable hours targets: 1,480 associates, 1,000 partners.

Key clients: BT, Castlemore Securities, Department of Trade & Industry, Ford, National Grid Transco, Nomura, Powergen.