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Edinburgh, Lothian, United Kingdom, 2010/07/14 - Maclay Murray & Spens LLP (MMS), the leading commercial law firm, has announced a strong set of results.
Maclay Murray & Spens LLP (MMS), the leading commercial law firm, has emerged from the last 12 months of economic turmoil by announcing a strong set of results, which sees net profit up by 15 per cent, to £15.2m. Turnover topped £52.5m in the period to 31 May, down 5.4 per cent on the previous financial year.
Profit per equity partner (PEP) rose to £265,000 up from £220,000 on the previous year, with profit per partner (PPP) reaching £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. They come at a time when we have more fee earners than any other law firm in Scotland and have topped the Scottish Business Insider deals tables for two consecutive years. It is an excellent performance, which speaks volumes for the quality of our people and their commitment through a very difficult period.
“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."
Maclay Murray & Spens LLP has 513 staff and 67 partners, across offices in Aberdeen, Glasgow, Edinburgh and London.
Submitted by The Communications Business on behalf of Maclay Murray & Spens LLP.
For further information:
Denise Hannestad, The Communications Business.