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.”
Read more posts
“Action is needed urgently to ensure everyone can benefit from early diagnosis of prostate cancer” Researchers are working with members of the Black community to develop and run workshops…Read more
SECURE cloud expert Howell Technology Group (HTG) is on the expansion trail, doubling the size of its premises in a move that will allow it to create at least 20…Read more
A LEADING North East law firm is celebrating a period of continued growth and expansion, despite the challenges of the pandemic. Mincoffs Solicitors, based in Jesmond, specialises in its corporate…Read more