Maclay Murray & Spens has unveiled robust financial results for 2006-07, with the big four Scots firm posting double-digit growth in profits and fee income.
Average profits per equity partner at Maclays now stands at £315,000 – a 15% increase on the £275,000 recorded last year, when the firm released its full annual results for the first time.
Fee income hit £54.3m this year, representing 12% growth from £48.3m during 2005-06. Total profits at the 72-partner law firm were up to £17.5m, a 12% improvement on a reported £15.7m for the equivalent period last year.
The latest results, which are subject to a formal audit, come after a busy 12 months for Maclays, which in May acquired the corporate and real estate teams of Aberdeen practice Iain Smith & Co. The firm also moved into new office premises in Edinburgh this year.
Commenting on the results, Maclays chief executive Magnus Swanson said the firm would “continue to explore further opportunities for… growth and development”.
He added: “The figures… include an excellent contribution from our London-based financial services company, Regulatory Solutions, and from our lateral hire partners.”
Which firm is now top dog in Scotland? Have your say with the Legal Week Wiki 2006-07 results special.
