Turnover and PEP up at Macfarlanes

Macfarlanes has posted is financial results for the 2010-11 financial year, with turnover increasing 2.5 per cent from £92.4m to £94.7m.

Charles Martin
Charles Martin

Partners enjoyed a 6 per cent increase in average profit per equity partner (PEP), with the figure up from £710,000 to £752,000.

The results make better reading than last year, when the firm posted a 6.7 per cent drop in turnover and a 4.5 per cent decrease in PEP for the 2009-10 financial year.

Corporate was the biggest contributor in 2010-11, accounting for 38 per cent of income.

Finance made up 18 per cent of revenue, property 16 per cent and litigation and private client both 14 per cent.

Senior partner Charles Martin said: “I would say overall it’s been a satisfactory year. We’re a transactional practice and transactional work’s still a tricky market. We’ve got some work to do but we’re relatively happy.”