Revenue inched up 0.8 per cent to £161m, while profits were down 8.8 per cent to £74.5m.
PEP fell to £1.29m, having jumped nearly 30 per cent to £1.55m the year before, marking a record year for the firm.
Overall growth
Despite the somewhat disappointing results, the figures represent overall growth for Macfarlanes over the last two years. Revenue is up 15.2 per cent compared to the 2013/14 financial year, while profits are up 15.3 per cent and PEP has grown by 7.6 per cent.
Senior partner Charles Martin described the previous year as ‘a record high that we predicted would be a spike for our results,’ but emphasised that the overall trend is ‘positive and that is what counts.’
Sources: The Lawyer; Legal Business
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