Martineaus’ profits continue to slide

Martineau Johnson’s profits have plummeted for a second consecutive year even though turnover rose to an all-time high. The Birmingham firm posted a 3 per cent hike in turnover to £18.5m, but average profits per equity partner dropped 21 per cent, from £170,000 to £135,000. This figure is well below two years ago, when equity partners earned £190,000.