THE highest-earning partner at Glasgow-based MacRoberts received a profit share of £553,000 in the last financial year after a bonus increased the payment to well in excess of the firm’s normal remuneration package.
In the year to April 30 partners at the firm were paid an average of £150,000, according to accounts filed at Companies House.
Like many other law firms MacRoberts pays its partners according to a so-called lockstep, which allocates profit shares depending on seniority.
The firm can also award a bonus on top of this and a spokesperson confirmed that the bulk of the £553,000 payment came from a bonus being awarded.
In the previous financial year the highest payment to an individual partner was £181,000. The enhanced payment came at the end of a year for which the firm posted an improved set of financial results.
Turnover for the year increased by 10 per cent to £19.8 million while pre-tax profits rose by 11 per cent to £7m. Between 2011/12 and 2014/15 turnover rose by a maximum of two per cent per year while profits increased from £5.6m to £6.3m over that period.
Managing partner John Macmillan said the improved results came on the back of a number of new client wins and panel reappointments, including the Scottish Government, Breedon Group, City of Edinburgh Council, Fife College, C S Wind, Perth & Kinross Council and the Scottish Fire & Rescue Service.
In terms of expenses, the firm’s rent bill increased from just under £1.6m in 2014/15 to just over £1.6m in 2015/16 while the amount it paid into its defined contribution pension scheme rose from £160,000 to £195,000.
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