Halliwells deal boosts BLG income
LONDON-based law firm Barlow Lyde & Gilbert has announced a 17% increase in fee income for its 2010/11 financial year on the back of its deal to take on most of Halliwells former insurance team in Manchester.
The firm said that it also saw profits increase by 35% on the back of what it described as “strong performances” across all of its offices – both in the UK and abroad.
Barlow Lyde & Gilbert had set up an insurance practice employing just over 20 people in the city in 2009. However, its £2.5m purchase of Halliwells’ insurance arm – considered by many to be the jewel in its crown – brought more than 220 staff to its Manchester office, making it the firm’s largest outside of London.
The firm’s chief executive, David Jabbari, said: “The indications at the half year showed that we were on course to have a solid 2010/2011, so I’m pleased that the hard work everyone has put in over the last 12 months has carried through to the year end.”
In the year to April 30, 2010, Barlow Lyde & Gilbert made a profit of £22.3m on income of £86.2m.
