|
|
|
| Turnover: |
£48.7m |
| Profit per equity partner: |
£275,000 |
| Earnings per partner: |
£244,000 |
| Equity spread: |
£140,000-£300,000 |
| Net profit: |
£16m |
| Profit margin: |
32 per cent |
| Revenue per lawyer: |
£213,000 |
| Revenue per partner: |
£680,000 |
| Revenue per equity partner: |
£854,000 |
| Total number of fee-earners: |
324 |
| Total number of assistants: |
157 |
| Total number of partners: |
72 |
| Total number of equity partners: |
57 |
| Total no of female partners: |
22 |
| Total no of female equity partners: |
4 |
| Total no of staff: |
546 |
| Leverage ratio (equity partners to
assistants): |
1:3 |
| Representative clients: |
Bank of Scotland,
Hewlett-Packard,
Lloyds TSB,
Ofgem,
Scottish Widows |
|
|
*BUY |
In the year when it converted into an LLP, Maclay Murray & Spens celebrated with double-digit growth in both turnover and profit.
PEP at the Scottish-headquartered firm hit £275,000 as the firm's net profit increased by 21 per cent to £15.7m. Turnover also increased significantly, up by 13 per cent to £48.7m. This is likely to be subject to an FRS5 adjustment, although it is not expected to be significant.
Maclays chief executive Magnus Swanson says the firm "beat expectations" in 2005-06 and describes it as a year of "quiet and stable" growth.
It followed a period in which Maclays expanded significantly, primarily via the acquisition of corporate boutique City Law Partnership 18 months ago. It also picked up a majority share in London-based financial services regulatory consultancy Leale-Green (now MMS Regulatory Solutions) in the past financial year. However, the firm suffered a significant setback in the crucial London battleground when it lost private equity partner Graeme Sloan to Latham & Watkins in early 2006.
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