Three companies report strong operating profit growth in latest financial statements

Macfarlanes, Norton Rose Fulbright and the Ince Group announced double-digit increases in operating profits in their latest key financial statements.

UK-based Macfarlanes’ operating profits rose nearly 13% in the 12 months to April 30, 2021, while the company also improved its cash position by 64% over the year, to £74m, up from £45m in 2020.

Benefit for the partner with the greatest impact on rights £3.4m, up from £2.7m in 2020, according to the company’s latest limited liability company accounts published on Companies House on Tuesday.

The company announced earlier this year that profit per partner had increased by 9% to exceed £2m for the first time.

Meanwhile, operating profit from Norton Rose Fulbright’s non-US business rose 16% for the year to April 30, 2021, to £152.8 million, according to the company’s latest LLP accounts. . The business’s revenue increased slightly over the same period to £482.5 million, with the growth mainly attributable to the UK arm of the business which increased revenue by 7.5 %.

Elsewhere, UK-listed company The Ince Group announced its unaudited results for the six months to September 30, 2021, showing a 36% increase in operating profit from the last set of figures.

The results come at the end of a busy year for the company, during which it launched “Ince Corporate Finance” in September, and continued its ongoing acquisition of Arden Partners as a corporate adviser.

There was a notable increase in the company’s net borrowing – up 81.9 per cent from £8.3m to £15.1m – which chief financial officer Simon Oakes said described as “in line with expectations” and attributed to an “acquisition cost fallout”.

He also noted that although there is continued uncertainty in the markets, Ince “still achieved growth last year in the UK, even during the pandemic”.