Positive results for Martineau
Birmingham law firm Martineau has announced profits of £6.1m. Profit per equity partner (PEP) has increased 10 per cent in the last year.
The company also revealed a slight decline in annual turnover, which was down 2 per cent on last year at £20.5m.
The firm attributes the drop in income to “broader economic factors”. Both the energy and retail teams experienced a rise in income of eight and six per cent respectively.
Martineau is also anticipating an increase in the number of litigation cases it will deal with over the coming months, particularly in the construction industry.
Bill Barker, managing partner, said: “The UK construction sector has been badly hit by the recession and as a result of the upturn we are likely to see increased litigation within the sector as all those involved in failed or faulty construction projects look for a guilty party.”
