LAW firm Irwin Mitchell said it had achieved “significant progress” over the last financial year despite challenging market conditions.
The firm’s total group revenue in 2016/17 increased by 6.3 per cent to £235.2m.
Group chief executive Andrew Tucker said Irwin Mitchell’s focus on delivering market-leading services across its business, private wealth and personal injury divisions is reaping benefits and providing a solid platform for further growth.
He added: “We made significant progress in a number of areas last year and I am excited about our prospects for the future.”
The group reported a profit before tax of £12.3m, which the firm said was in-line with the previous year.
A spokesman said: “Noticeable successes during 2016/17 include the personal injury division recording its strongest ever outcome for new business.
“The year saw the successful launch of Irwin Mitchell’s private wealth proposition and also the start of a major partnership between the firm’s business legal services division and the Confederation of British Industry (CBI).”
Irwin Mitchell’s group companies, IM Asset Management and Ascent continued to grow, the spokesman said. The spokesman added: “The growth in revenue comes despite the personal injury sector seeing continued challenges regarding the discount rate, with some commercial insurers delaying settlements while political uncertainty continues regarding the recent consultation on how to set the rate.”
Mr Tucker said: “The group has responded positively to challenging external conditions and I’m pleased to say that this hard work is reflected in these financial results. I’m very optimistic about the opportunities across the group and our strength in breadth gives us a great platform to build on.
“Our personal injury teams continue to grow while our business legal services teams are now adopting a new sector-based strategy following a review.
“We have also launched Irwin Mitchell private wealth which can help to act as a bridge between our business and personal legal services so that we can seamlessly support our clients.”
Mr Tucker added: “We are focused on continuing to build a strong and diversified group driven by client need, with highly engaged colleagues. As a business, we have a clear vision to support future growth in both revenue and profit and build capability further.”
Irwin Mitchell employs 200 people in Leeds and 1,200 people in Sheffield.