JMW reports strong half-year growth
LAW firm JMW has continued its strong performance in the first half of its new financial year with 14% growth in fee income.
The ambitious firm based in Spinningfields, Manchester, said it had seen 17% growth in personal injury and clinical negligence, while in family and employment – where JMW has made a number of major hires in the last 12 months – billings were up 166% and 161% respectively.
Revenue in commercial litigation was up 62% and 37% in private client.
The increases helped JMW to grow revenues in the traditionally quieter first half from £5.6m to £6.4m.
The half year figure means the firm is on track to top it’s full year turnover for the year to the end of April, which in the last financial year rose 20% to £13.2m
This month it has seen its headcount pass 200, after more than 40 hires in the last two years.
Managing partner Bill Jones said the results were “very encouraging” in a “difficult market”.
“Since 2008 when the recession started, the firm’s income has increased from £8m to £13.5m. Our decision to further invest in the commercial sector and continue with our marketing strategy during the recession has been the right one for us.”
The firm said it is continuing to win new business – much of which is being sourced online. It said it is obtaining 75% of its work from new clients and 25% from existing clients.
Instructions from its own website were up by 153% in the six months to October 2012 as against 2011. In addition Lawshare, the firm’s network of North West law firms, set up in June 2011, now numbers 80 firms as members and has seen new instructions grow by 177%.
Senior partner Joy Kingsley, who leads the firm’s business development activities, said “We are finding many new routes to market and to new clients, turning around traditional perceptions about law firms.
“We have seen growth across both commercial and private client departments gaining new clients in both areas. Despite challenges in our sector we are very confident about the future.”
