Profits leap 58% at Newcastle law firm Muckle LLP

A focus on improving efficiencies and increasing deal activity in the North East has delivered profit and turnover growth for commercial law firm Muckle LLP.

The Newcastle-based company has reported a turnover of £11.3m for the year to April 2018, up from £10.8m the year previous.

Profits for the period stood at £1.9m, a year-on-year increase of around £700k or 58%.

Muckle’s managing partner, Jason Wainwright, said the company is “very pleased” with the results “given the economic backdrop”.

He commented: “Our turnover increase arose as a result of our increased deal activity in the region and some key and significant client wins. Profit improved significantly.

“Much of the profit improvement arose as a result of how we account for the promotion of six previously salaried partners to the equity partnership on April 1 2017 but also came from the increased turnover combined with proactive management of our operating costs and improving efficiencies.”

Looking ahead, Mr Wainwright said the firm has enjoyed a solid start to 2018/19, with revenues and profits “well up” at the half-year mark compared to the same period in 2017/18.

He added: “Our business is currently handling a large number of deals and we are pleased to report we are again ahead of target for 2018/19 both in terms of turnover and profit.”

 

BDAILY ARTICLE

 

Leave a
comment

Read more posts

North East fitness app beats…

20.08.2019

A fitness app developed by a small team in the North East has beaten nearly 2 million others to be chosen by Apple to be featured as its prestigious App…

Read more

INVITE TO ‘FINTECH FRIENDS’

19.08.2019

A SOCIAL evening has been arranged for the growing number of people working in the region’s Fintech sector. Regional IT network Dynamo North East is behind the free Fintech Friends…

Read more

Atom could create up to…

15.08.2019

Durham-based Atom bank has received a £10m grant to boost its competition in SME lending. Atom, having been founded in 2014, is the UK’s first bank built exclusively for mobile.…

Read more

@UniofNewcastle are hosting a one-day business event at the Urban Sciences Building in Newcastle as part of #CyberFest19. Hear from organisations that have dealt with the fallout of cyber and delivered real solutions. Free tickets here>bit.ly/2XKp1oJ @AccentureUK pic.twitter.com/EPOUhelaxR

Join our
mailing list