Managing partner Jamie Martin
Law firm Ward Hadaway, which employs more than 450 people across its offices in Newcastle, Leeds and Manchester, saw its income steady at just short of £36m in the year to the end of April 2017.
The firm has seen 26% growth over the last 10 years and reports that work volumes across the firm rose by 3% in the year to the end of April 2017.
Profits also remained on track despite significant investment in facilities and personnel across all three offices.
Ward Hadaway managing partner, Jamie Martin, said: “We are very content that income remains steady across all of our departments and offices in what was a somewhat difficult year for the British economy.
“Uncertainties caused by Brexit and the political situation in a number of countries including our own have affected the legal market place and so to be able to report a 3% increase in volume is a more than satisfactory outcome.
“It is also particularly pleasing to report that profit remained relatively strong, despite the significant investment which we made over the course of the year.
“Continuing to invest in our operations is vital to the ongoing success of the firm and is something we remain committed to going forward.”
In its North East heartland, Ward Hadaway’s investment included the recruitment of a number of experienced lawyers to help continue its growth, lawyer cohort increased by 7% demonstrating the firm’s commitment to the future.
Ward Hadaway’s corporate team enjoyed a very busy year, advising on a string of high-profile deals both within the North East and outside the region including the sale of Cramlington-based online holiday company sunshine.co.uk to On The Beach plc, the sale of leading care home group Helen McArdle Care to national operator HC-One and the management buy-out of outdoor clothing retailer Weird Fish.
The team successfully completed the sale of 3,336 new homes in the 12 months to the end of April 2017 at new development sites across the country, a figure which represents 1 in 50 of all new homes build in England during the period.
Looking to the future of Ward Hadaway, Jamie Martin said: “The firm will continue to invest in people and in our infrastructure, we have confidence in the individuals that make up our business and the loyalty of our clients.
“We are proud to be a ‘Northern based Law Firm for National Business’ and we look forward to benefiting from a political commitment to the Northern Powerhouse as we support our clients’ ambitions across the North.
“We believe that there is a place for mid-sized commercial law firm dedicated to the North and to the markets we serve and our recent commitment to our independence supports that vision.”