Addleshaw Goddard reports highest growth in five years

The law firm, which has an office in Leeds, reported underlying fee income of £172.5m for the year ending April 30, 2014.

The increase was driven by strong levels of activity across the firm, particularly in corporate, finance and projects and litigation, combined with planned strategic investments at an international level.

As a result, Addleshaw Goddard experienced 11 months of consecutive growth.

John Joyce, managing partner at Addleshaw Goddard, said: “Underlying growth of between five and eight per cent combined with a margin of 26 per cent in a year of investment shows the strength of our core business.

“Our performance climbed throughout the year, and since the half-year more strongly still across the business.

“At a time when businesses continue to concentrate instructions amongst smaller groups of law firms, we have retained and greatly improved our position and opportunity with many significant clients. We have gained a strong reputation for innovation and for commitment to and understanding of clients’ needs.

“We have developed our sector focus and expertise, both in areas of traditional strength for the firm such as financial services, and in other areas such as energy and rail. We have significantly increased our international capability. And we have invested in building the experience and expertise within the partner group.

“Our focus now will be to translate this momentum and our continued investment in the business, in the UK and internationally, into a material improvement in our competitiveness, performance and returns.”

During 2013/14, Addleshaw Goddard also appointed 26 new partners, of whom eight were in the Corporate Division and seven in overseas offices.

However, the firm took an exceptional charge in the year in relation to its partner restructuring and a provision for a material debt. Consequently, income and net profit was £171.4m (3 per cent growth) and £39.8m respectively (11 per cent down on the previous year’s figure of £44.9m).

Addleshaw Goddard’s clients include Diageo, Sainsbury’s and William Hill.