| Turnover | £74m | | Profit per equity partner | £810,000 | | Equity spread | £380,000-£950,000 | | Net income | £37.3m | | Profit margin | 50 per cent | | Revenue per lawyer | £344,000 | | Revenue per partner | £1,213,000 | | Revenue per equity partner | £1,609,000 | | Total no of fee-earners | 268 | | Total no of assistants | 154 | | No of partners | 61 | | No of equity partners | 46 | | Total no of female partners | 10 | | Total no of female equity partners | 4 | | Total no of staff | 482 | | Leverage ratio (equity partners/fee-earners) | 3.3 | | Representative clients | Alchemy
Royal Bank of Scotland
Pernod Ricard
Virgin
Omnicom
3i | |
Another strong year for Macfarlanes, which
was again powered by its corporate and private
equity practice. Turnover rose from £67m to £74m,
while average PEP was up from £720,000 to
£810,000.
Corporate, which includes pensions, investment
funds, tax and the nascent debt finance business,
accounts for £37m, or 50 per cent, of turnover.
Deals in the upper mid-market were plentiful, and
Macfarlanes revelled in its domestic corporate franchise.
UK-based work makes up the majority of the
corporate practice, but Macfarlanes' close relationship
with German independent Nörr Stiefenhofer
Lutz continues to underpin its European strategy.
The new debt finance practice, in its first full
year, turned over around £5m, backed up by a number
of panel wins such as Royal Bank of Scotland.
Corporate may have had an excellent year, but
the star performer was real estate, which now
accounts for 20 per cent of turnover, or £14.8m.
Private client continues to generate strong figures,
with a turnover of some £10m and a swathe
of new partners.
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