Profits up by 30 per cent at Maclay Murray & Spens LLP
Maclay Murray & Spens LLP (MMS), the commercial law firm with offices in Aberdeen, Edinburgh, Glasgow and London, has reported a robust financial performance in the last financial year, which has seen firm turnover increase by 7.3 per cent to £43.3m (£40.4m). Profit available to all members for the year ended 31 May 2014 reached £14.1m, up from £10.8m the previous year (30 per cent), while profit per equity partner (PEP) increased by £50,000 to £261,000 (24 per cent).
Particularly strong performance in corporate, tax, real estate, construction and financial services activity allowed the firm to invest further in its London and Scottish offices, including the appointment of five lawyers to partner in the course of the last financial year, with an additional four lawyers promoted to partner on 1 June.
Kenneth Shand, chief executive of MMS, said: “Maclay Murray & Spens is in excellent shape, both at a strategic and operational level, which is testament to the commitment of our partners and staff, who have maintained a clear focus on delivering what really matters to clients.
“The legal sector has faced a period of considerable economic uncertainty and has also had to tackle structural change. We have by no means been immune to these challenges but I am confident we have a very strong platform from which to move forward. In fact, the underlying trend is even more encouraging with our total profit figure showing an increase of 35 per cent before exceptional costs.
“Irrespective of the outcome of September’s independence referendum, we believe clients will continue to look for legal advisers who share their own vision. Continued investment in our London and Scottish offices, underpinned by our active role in Lex Mundi, the leading global network of independent law firms, remains at the heart of our strategy, which will allow us to support clients across domestic and international markets.”
Kenneth Shand – Chief Executive