Macfarlanes has had a stellar year with record profits per equity partner. Other financial results released this week reveal a bumper year for Travers Smith but a drop in profit per equity partner (PEP) at Linklaters.
Macfarlanes' revenue has increased 20% to £201.5 million and profits have risen a massive 25% to £107 million, resulting in PEP rocketing by an astounding 26% to £1.74 million. Senior partner Charles Martin told RollOnFriday said that the great year for the firm "one in which nearly all our markets were buoyant, not just in M&A, but right the way across our practice".
Equity partners so loaded they can Supersize without a second thought. |
At Travers Smith, revenue jumped by an impressive 18% to £146.9 million with PEP leaping 24% to £1.2 million. Managing Partner David Patient praised the "fantastic work" by the firm, although noted that there may be some "bumps in the road ahead" as Brexit comes up.
At Ashurst revenue grew by 4% to £564 million with PEP growth by 11% to £743,000. While at Clyde & Co revenue was up 9% to £551.3 million, but PEP rose a modest 2% to £660,000
Linklaters posted a 6% revenue rise to £1.52 billion with profits up 2% to £676.2 million. However, the firm is the poor cousin of the Magic Circle this year compared with CC, Freshfields and A&O when it comes to PEP, as it fell by 2% to £1.54 million.
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