Profit per equity partner: £202,000
Equity spread: £101,000-£225,000
Net profit: £9.7m
Profit margin: 23 per cent
Salaried partner remuneration: £77,000
Revenue per lawyer: £150,000
Revenue per partner: £357,000
Revenue per equity partner: £836,000
Cost per lawyer: £115,000
Profit per lawyer: £35,000
No of partners: 117
No of equity partners: 50
No of female partners: 17
No of female equity partners: Four
Total no of fee-earners (including consultants, paralegals etc): 347
Total no of fee-earners (excluding consultants, paralegals etc): 279
Total no of staff: 721
Leverage ratio: 1:3.24
Equity partner to staff ratio: 1:7.48
Fee-earner to staff ratio: 1:1.08
Financial management: WIP last year was 55 days, with 90 debtor days at year-end. No lockup target. Practice profile by revenue is commercial litigation and insolvency 19 per cent, commercial 7 per cent, property 33 per cent, banking 6 per cent, corporate 15 per cent, private client 7 per cent, employment 8 per cent and debt recovery 4 per cent. Average fixed capital contributions £100,000.
Equity structure: Modified lockstep with five steps to full equity. 29 partners at the top of the lockstep last year.
Billable hours targets: 1,100 assistants, 1,150 partners.
Key clients: Bank of Scotland, Bruntwood Estates, DTI, Insolvency Service, Magnet, Matalan, Orange, Salford City Council, Tyco/ADT Fire & Security, Walsall Metropolitan Borough Council, Whitbread.