Law firm announces 20% increase in revenues
Manchester law firm JMW has announced a 20% rise in revenues at its half-year point.
The increase follows a rise of 30% in the financial year to April 2018.
The firm now employs 500 people at its Spinningfields base across 12 commercial and private client work areas.
The revenue from May to October 2018 was £18.9m compared to £15.8m in October 2017.
The firm is therefore on target to exceed its £37m budget for 2018/19. The family team grew the most across the firm with an outstanding 110% increase.
JMW’s family team is the largest one in the North West following the acquisition of the entire DWF family team on 1 May 2018, after a record year in 2017/18.
The team were recently ranked in The Times Best Law Firms 2019 for Family Law and Partner Cara Nuttall won Young Lawyer of the year at The Manchester Young Talent Awards.
Further to this they achieved a 1st tier listing in the Legal 500 2018 as did clinical negligence, fraud, media and tax, trusts and probate.
Other departments of particular note in increasing revenue the last six months include business crime and regulation up by 52% and Employment up by 36%.
This is in addition to the outstanding performance of the newly created real estate finance team who have grown to 28 people in 2018 and are likely to produce £2.5m of fees in their first year.
JMW is also continuing to recruit extensively with a number of lateral hires across all departments with new partner hires in the last six months that include David Pickering, Elspeth Kinder, Beverley Jones and Abigail Bennett (Family), Richard Allen (Commercial Litigation), Andrew Rimmer (Real Estate Commercial), Russel Forward and Alex Jeffery (Real Estate Finance) and Clare Stevens (Military Specialist in Personal Injury).
JMW recently were ranked at number 85 by size of income in the UK in The Lawyer Top 100, moving up from number 96 in 2017 and according to the guide had the 5th fastest growing profit of the Top 100 law firms including those in London.
Joy Kingsley, senior partner, at JMW said: “We are pleased that the growth of people numbers and revenue continues unabated.
“The growth is fuelled by the requirements of existing clients and the addition of new clients in all areas of our practice.
“This means that our ambitious plans are aligned with our clients’ wishes. The success we continue to enjoy is supported by the hard work of our Partners and staff.”
