Turnover (£m): 21
RPL (£k): 176
It was very much business as usual last year for Geldards, which saw turnover rise by £500,000 to £21m. Profitability was also static, with a net profit of £5m and an average profit per equity partner of £227,000.
Geldards covers corporate, litigation, property and commercial work, but is planning to seek lateral hires in other areas to further grow its business. Chairman David Williams identifies infrastructure and agriculture as two areas for particular focus.
The firm’s headcount rose slightly compared with the previous year. Geldards now has 55 partners, of whom 22 are full equity. The equity partnership sits on a 10-step lockstep and partners move up or down following a performance assessment.
Lockup performance was good. Geldards beat its 120-day target by three days, experiencing few problems with non-paying clients, according to Williams.