The firm's turnover of £49 million means it has delivered in 11 months what it had taken in 12 last year, with its annualised revenue performance up 9% on the previous year. MFMac shortened its annual accounting period by one month this year.
Profitability remains strong, with net profits hitting £19.2m in the 11 months to April – a 10% increase in profitability when accounting for the difference in reporting periods. A firm-wide bonus award equivalent to 6% of salary was paid to all staff.
Annual profits have now grown by 30% since the launch of MFMac in late 2023.
Chris Harte, CEO of MFMac, said: “Our vision continues to be about empowering our people to consistently deliver a positive, user-friendly client experience and these financial results provide tangible evidence of the progress we are making.”
Earlier this year, MFMac was ranked among the UK's top 10 law firms for client recommendation and was also one of the top 10 "Best Law Firms to Work For" across the UK.
In support of its growth strategy, MFMac has also made a number of senior appointments over the last year including six new partner appointments, a new Chief People Officer, who joined from Deloitte, and a new Risk & Compliance Director from A&O Shearman.
Chris Harte added: “At a time of rapid technological change, we believe that it's more important than ever to put the client experience at the heart of how we design and deliver our services. We are investing significant time and resources on a structured programme of client-listening and this is already providing us with fresh insights into how we can continue to deliver real value to our clients.”
Read more in Scottish Legal News.
