Turnover (£m): 26
Average PEP: 293
Equity spread (£k): 140-350
Profit margin (%): 35
RPL (£k): 271
Bristows’ continuing reputation for handling contentious and non-contentious IP matters at the very top of the market contributed to an 8 per cent rise in total turnover in 2010-11 to £26m, a similar increase to the previous year’s and continuing a remarkably consistent growth rate for the past three years.
The London firm also posted a 16 per cent increase in net profit to £9m and a 10 per cent increase in average profit per equity partner, from £267,000 to £293,000, while at the same time slightly growing its all-equity partnership. The top of equity was £350,000 last year.
Late last year the firm appointed corporate specialist Iain Redford as joint managing partner alongside IT partner Mark Watts. Senior partner Phillip Westmacott continues in his role.
One of Bristows’ management team’s projects during the year was an examination of the remuneration system. The conclusion was that its pure 10-year lockstep (rare indeed among the top 100) was fine and needed no tinkering.
Bristows’ clients include Google, AstraZeneca, CapGemini, Diageo and the BBC. The firm is continuing with its efforts to diversify the practice into related areas such as IT and commercial litigation.
Last year key matters included Google’s Street View case, Sas Institute v World Programming and a role for Samsung in the epic mobile phone IP wars.