Shakespeare Putsman sees revenues climb to £23m
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SHAKESPEARE Putsman has seen revenue for 2010/11 increase to £23.4m following a year of unprecedented change for the Birmingham law firm.
The firm has experienced considerable growth during the past 12 months, highlighted by two major acquisitions – Needham & James and Berryman. The growth has seen the firm extend its geographical reach into Stratford-upon-Avon and Nottingham and it now has five offices across the Midlands.
Underlying revenues for the year totalled £28m and the firm said it now intended paying a bonus to all of its 370 employees with each member of staff receiving 2% of salary.
Paul Wilson, chief executive of the firm, said; “The Midlands economy and the legal sector as a whole both remain very difficult markets in which to operate. We are very pleased that in four of our five main business areas we have seen a small growth.
“The Midlands property market remains very flat compared to the highs of three years ago – we continue to have a very successful, if somewhat smaller, business in this sector. Total revenues have met our expectations in a year of significant change and growth.
“Our decision to amalgamate Shakespeare Putsman, Berryman and Needham & James was based on our firm view that the economy will stay flat for the next three years, clients will become more demanding, and that we will therefore need to invest heavily in our people, technology and brand to serve their needs. Our combined strength in depth sets a firm foundation for the next three years.”
He added he was pleased the firm had been able to share the spoils of success with its staff.
The Needham & James merger completed in July last year and was followed in November with the Berryman deal. Both are now trading names of Shakespeare Putsman LLP but all are likely to be integrated into the parent firm’s name by the end of the summer.
