Macfarlanes has joined the U.K. law firms announcing bumper results, with its revenue, profits and and profit per equity partner (PEP) all leaping in the 2020/21 financial year.

The firm’s profit per equity partner figure has smashed through the £2 million for the first time, hitting £2.085 million. The firm’s PEP level is now higher than elite rival Allen & Overy, which announced PEP of  £1.9 million in its financial results earlier in July.