WARD Hadaway has reported its fifth consecutive year of growth with annual turnover rising to a record £33.5m.
The top 75 law firm, which has offices in Newcastle, Leeds and Manchester and nearly 450 staff, said competition in the legal sector is “intense”.
Jamie Martin, managing partner, said: “Competition in the legal market place is intensifying with the arrival of new entrants and existing firms looking to grow their market share as a result of consolidation, set against that backdrop and the need to keep costs under control, the fact that we have continued to grow our business across all three offices is very pleasing, with a number of practice areas seeing significant growth.”
The firm said it has consolidated its position as one of the leading law firms for contentious business in the North. The litigation department now has a turnover of £16m representing nearly 50 per cent of turnover. The property department had a good year too, with fee income growing by nearly 16 per cent.
Mr Martin added: “There are certainly challenges ahead and we remain vigilant; on costs, competition in the legal sector and the shape that the economic recovery is taking, but we look forward to the future with confidence and to continuing to provide high quality, accessible legal services to our clients from all three of our offices across the North.
“Unlike some of our competitors we have continued to grow our workforce and to provide additional high-quality jobs by investing in the regional economies of the North East, Yorkshire and Humberside, and the North West.”
Ward Hadaway did not disclose profit figures.