Macfarlanes has retained its position as the U.K. Top 50 firm with the highest profit margin, coming in slightly ahead of Freshfields.

The U.K.-only firm, which also topped the table ranked by average profit per equity partner, has a profit margin of 50%, according to Law.com International analysis of numbers for the 2023-24 financial year. The average for the 30 firms with the highest margin was 31.5%.