Law firm sees revenue and profits soar, post-merger
Law firm Weightmans has posted positive financial results for 2022/23 financial year, the first since its merger with RadcliffesLeBrasseur in June 2022
Total income increased by 22% to £125.9m, 11% of that organic. Net profit also increased by 12.5% from £11.3m to £12.7m in the 12-month period. Net cash also improved over the period.
The firm recorded an increase in revenue across all key client markets, with standout increases seen in services to private clients (67%) as well as 48% growth in its health sector, a 32% increase in work for corporate clients and 24% growth in services to public bodies.
It was a similarly positive story within the firm’s practice areas, with 100% growth in regulatory work, employment, pensions and immigration growing by 33%. Commercial litigation and speciality also grew by a third.
Weightmans has started the new financial year with the appointment of new client relationships director Sarah Walton to the board. She was previously partner and head of the firm’s corporates offering before joining the board on 1 May.
Managing partner John Schorah said: “This has been another very positive year for Weightmans with sustainable growth for the business . We are reassured by the figures, but more importantly how our people have responded to this challenging economic climate. The prospects for this year look really encouraging as well.
“Our merger with RadcliffesLeBrasseur, the integration of teams and embedding of new technology has been a great success and this is a testament to the support and hard work of colleagues from across the business. We have introduced a number of award-winning products to the market and welcomed a raft of new talent to the firm as we continue to see the possibility in all that we do, in order to delight and inspire our clients and our people.”