Turnover (£m): 30
Average PEP: 250
Equity spread (£k): 100-280
Profit margin (%): 28
RPL (£k): 164
North West firm Brabners Chaffe Street saw its turnover dip by 1.6 per cent, from £30.5m to £30m, while net profit fell by 5 per cent to £8.5m. Average profit per equity partner was down from £260,000 to £250,000. Partners at the bottom of the ladder pocketed £100,000 and the 10 plateau partners £280,000. The modified lockstep has eight steps, each with eight points. Partners are reviewed prior to moving up the ladder with more rigorous testing at 58 and 75 points.
Property and corporate remain Brabners’ biggest practice areas, contributing 22 and 20 per cent respectively to total revenue. But it is the sports practice that is the firm’s jewel in the crown. It turned over around £3m and acts for a number of Premiership football clubs on some of the biggest transfers in the market. The social housing and private client business, acquired following the takeover of Liverpool’s Bremners two years ago, billed £1.5m and £1.7m respectively.
Brabners overhauled its management structure in 2009-10 following the election of managing partner Mark Brandwood for a three-year term. He set up a seven-partner advisory board led by chairman Stephen Burrows, a former RBS director. The management board has been slightly reduced.
Brabners continued with opportunistic bolt-ons in May 2011 with a tie-up with three-partner residential property firm Murphy Hodgkinson.