Turnover increase for Maclay Murray & Spens
31 Jul 06
Thirteen per cent increase sees turnover jump to £48.7 million
The law firm Maclay Murray & Spens today announced a significant increase in turnover and profits in its annual results for 2005-06.
The 72-partner firm saw turnover rise by 13% to £48.7 million from £43 million the previous year. Profit available to partners, for the same period, jumped by 21% to more than £15.7 million, bringing out a PEP (profit per equity partner) of over £275,000.
Magnus Swanson, chief executive, said: “This has been an excellent year for the firm and places us in a strong position to explore opportunities for further growth and increase our market share in the UK.
"While the success of our strategy in merging with the City Law Partnership 18 months ago is confirmed by these results, it does not take account of our acquisition of the London-based financial services compliance company, Leale-Green.
"We are encouraged by the way the integration of the now rebranded Regulatory Solutions Ltd is going and are looking forward to seeing the full benefits of this acquisition over the next 12 months.”
Maclay Murray & Spens adopted limited liability partnership (LLP) status on 1 July. The firm's total headcount now stands at 580.