Martineau grows profit 48 per cent as strategy pays off

Birmingham-based Martineau Johnson has grown average profit per equity partner by 48 per cent to £260,000.

The jump from £176,000 last year comes despite an expansion of the equity from 17 to 20 partners. The firm has an additional 28 fixed-share partners.

Managing partner Bill Barker says that in the past two years lateral hires and new premises in London hit profitability, but have now paid off.

The biggest area of growth was the IP and technology group, which increased revenue by 56 per cent. Corporate finance expanded by 38 per cent and banking by 25 per cent.

Overall, fee income rose 12 per cent to £23.3m.