Cobbetts – UK 100

Turnover: £41.8m

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.