| Turnover |
£90m |
| Profit per equity partner | £945,000 |
| Earnings per partner |
£768,000 |
| Equity spread | £450,000-£1.12m |
| Net profit |
£45m |
| Profit margin |
50 per cent |
| Revenue per lawyer |
£466,000 |
| Revenue per partner | £1.38m |
| Revenue per equity partner |
£1.88m |
| Total number of fee-earners |
250
|
| Total number of assistants |
128 |
| Total Number of partners |
65 |
| Total Number of equity partners |
48 |
| Total number of female partners |
11 |
| Total number of female equity partners |
5 |
| Total number of staff |
500 |
| Leverage ratio (equity partners/fee-earners) |
1:3.0 |
| Representative clients | Alchemy,
Anglo Irish Bank,
3i,
Hilton Hotels,
NIB Capital,
Pernod Ricard
|
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*BUY |
Macfarlanes' turnover leapt by 16 per cent, from £74m to £90m, as the firm reaped the benefits of the boom in corporate and real estate work.
The turnover rise was mirrored by an increase in average profit, which soared to £945,000, close to last year's top of equity. Net profit rose by an impressive 21.5 per cent, from £37.3m to £45.3m. Partners at the top of the equity broke the £1m barrier this year, with each pocketing £1.12m.
The number of equity partners increased slightly, from 46 to 48, while the total partnership number rose from 61 to 65.
Macfarlanes operates a merit-based remuneration system, but the spread from top to bottom is a consistent 2.5:1, with partners at the bottom making £450,000.
Corporate dominates, representing more than half the turnover at £46m. However, this also includes the growing debt finance group (which turns over some £7m), pensions, investment funds and tax.
Real estate continued to account for some 20 per cent of revenue, with billings of £18m, up by 21.5 per cent from £14.8m the previous year.
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