News In Focus
Profits rise 15 per cent at MMS
Maclay Murray & Spens LLP (MMS) has announced its results for the 12 months to 31 May 2010, reporting net profit up by 15 per cent, to £15.2 million, but a 5.4 per cent fall in turnover to £52.5 million. Profit per equity partner (PEP) rose to £265,000, up from £220,000 the previous year, while profit per partner (PPP) was £227,000.
Magnus Swanson, chief executive of MMS, said: “These results are a reflection of the outstanding work done for our clients in a very difficult business environment and the fact we have taken a number of steps to control our cost base so as to ensure the firm is in a strong position to benefit from an upturn in the market.
“We remain cautious about the prospects of the economic recovery strengthening in the near future and will continue to manage the firm prudently, focusing on client care while controlling our overheads."