Law firm reports £235m revenue during 2016/17

Law firm reports £235m revenue during 2016/17
Irwin Mitchell reports 6.3% revenue growth for the year

National law firm Irwin Mitchell has announced that its total group revenue in 2016/17 increased by 6.3% to £235m.
The organisation, which has offices in both Sheffield and Leeds, says delivering market-leading services across its business, private wealth and personal injury divisions is reaping benefits and providing a solid platform for further growth.
Noticeable successes during 2016/17 include the Personal Injury division recording its strongest ever outcome for new business. The year saw the successful launch of Irwin Mitchell’s Private Wealth proposition and also the start of a major partnership between the firm’s Business Legal Services division and the Confederation of British Industry (CBI).
Irwin Mitchell Group companies, IM Asset Management and Ascent continued their growth stories. IMAM now has over £500m of assets under management while Ascent recently secured a partnership with the Federation of Small Businesses (FSB) which will see it provide a new dedicated debt recovery service for its members.
The growth in revenue comes despite the personal injury sector seeing continued challenges regarding the discount rate with some commercial insurers delaying settlements while political uncertainty continues regarding the recent consultation on how to set the rate.
Andrew Tucker, group chief executive at Irwin Mitchell, said: “We made significant progress in a number of areas last year and I am excited about our prospects for the future.
“The group has responded positively to challenging external conditions and I’m pleased to say that this hard work is reflected in these financial results.”
Of the year ahead, Tucker added: “We are focused on continuing to build a strong and diversified Group driven by client need, with highly engaged colleagues. As a business, we have a clear vision to support future growth in both revenue and profit and build capability further.”

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