Macfarlanes has maintained profit per equity partner at £3.1m for a second consecutive year, while Foot Anstey has reported a 12% increase in profit to £18.05m.
Macfarlanes’ unaudited results for the year to 1 April show operating profit increasing 2.7% to £212.0m. Turnover rose 4.9% to £389.5m, although the firm’s profit per equity partner figure remained unchanged at £3.1m.
The results show growth in both turnover and operating profit without a corresponding increase in the amount reported for each equity partner. The £3.1m figure is nevertheless among the most prominent measures in the firm’s annual performance and has now been recorded for two years running.
Macfarlanes senior partner Damien Crossley described the figures as a satisfactory outcome. He said the performance reflected standout mandates within the firm’s M&A and disputes practices, together with continued strength in its advisory practices.
Crossley also referred to a market backdrop that had been challenging at times. His comments identify M&A, disputes and advisory work as the practice areas supporting the firm’s reported performance during the year.
The figures therefore present two distinct elements of Macfarlanes’ financial results. Turnover and operating profit both increased, while profit per equity partner remained level. That combination leaves the firm reporting wider financial growth alongside a stable headline measure of partner earnings.
Foot Anstey separately announced a 12% increase in profit to £18.05m. Turnover at the national law firm increased 7% to £82m.
The firm said the latest results followed a period of sustained growth, with revenue rising 53% over the past five years. The five-year figure places the latest annual increase within a longer period of revenue expansion identified by Foot Anstey.
Managing partner Martin Hirst said achieving double-digit profit growth in an uncertain market and against a volatile macroeconomic backdrop demonstrated the firm’s resilience and the strength of its growth strategy.
Hirst linked the financial performance directly to Foot Anstey’s ability to continue investing in its people, sectors, technology and AI. He also said the firm remained ambitious and intended to maintain investment in the areas it considers most important to delivering for clients and its people.
Foot Anstey has presented that continued expenditure as part of its plans to strengthen its position as a leading national mid-market firm. The reported profit increase therefore carries a stated operational consequence: the firm says it has the financial capacity to continue funding its identified investment priorities.
The two sets of results show different movements in their main financial measures. Macfarlanes increased turnover and operating profit while keeping profit per equity partner at £3.1m for a second year. Foot Anstey reported increases in profit and turnover and connected that performance to further investment in people, sectors, technology and AI.
