A depressed transactional market in the UK has had little effect on the financial performance of Macfarlanes, with the high-performing City firm posting a 12% increase in revenues for 2012/2013 from £102.2m to £114.16m.
The firm, which recorded an 8% rise in revenues in 2011/2012, continues to be one of the most profitable firms in the City, with net income up 16% from £42.44m to £49.25m, equating to a PEP of £985,000 – an increase of 9% on 2011/2012. Profit per lawyer at the firm stands at £158,000 – a rise of 7%.
