Top-50 firm Macfarlanes has reported flat profit growth in a 'transitional year' - but nonetheless announced a profit per equity partner figure of £3.1 million for the second year running. 

Unaudited results for the year to 1 April show operating profit up 2.7% to £212.0m on turnover up 4.9% to £389.5m.

Damien Crossley, senior partner, described the figures as 'a satisfactory outcome'.

'The results reflect some standout mandates in our M&A and disputes practices and continued strength in our advisory practices against a market backdrop that was challenging at times,' he said. 

Meanwhile as the results reporting season continues, national law firm Foot Anstey announced a 12% profit increase to £18.05m on turnover up 7% to £82m. The firm said the results follow a period of sustained growth with revenue up 53% over the past five years.

Managing partner Martin Hirst said: 'Achieving double digit profit growth in an uncertain market with a volatile macro-economic backdrop demonstrates our resilience and the strength of our growth strategy. Our solid performance allows us to continue investing in our people, our sectors, technology and AI.

'Looking ahead, we remain ambitious. We will continue investing in the areas that matter most to ensure we deliver for our clients and our people, while strengthening our position as a leading national mid-market firm.'