Law firm in bullish mood as turnover passes £300m barrier

Irwin Mitchell Group is in bullish mood after reporting that revenue passed the £300m revenue mark for the first time.

The Sheffield-headquartered group, which has offices across the UK including Leeds, Birmingham and Manchester, also grew profit before tax in the most recent financial year.

Group revenue was up 10% to £304.3m for the year ending 30 April 2024 (FY23: £276.4m) while profit before tax, which is after all staff and partners have been paid, was £21.7m, up 45% on the prior year (FY23: £15m).

The firm’s year-end group cash position of £58.8m is also £14.4m higher than last year (FY23: £44.4m).

The year of growth comes as Irwin Mitchell also continued to invest in its future success by opening a new office in Brighton and completing deals to acquire Silk Family law in the North East of England and invest in Wright, Johnston and Mackenzie in Scotland. These two deals contributed £4.1m of revenue to the group accounts following their completion in the second half of the financial year.

Following the financial results, the Irwin Mitchell Holdings board has also agreed to donate £500k to the Irwin Mitchell Charities Foundation (IMCF) which funds good causes in the UK and abroad.

Craig Marshall, group chief executive at Irwin Mitchell, said: “Despite a year of significant change in the business we’ve demonstrated remarkable resilience to deliver a strong performance. We have a strong balance sheet and head into the new year with positive momentum as we focus on becoming a more agile and dynamic business for the future delivering sustainable and profitable growth.

“Our client and colleague experience continues to stand out from the crowd and our latest results are testament to the hard work of our colleagues throughout the year.

“I’m excited about FY25 which will be my first full year as CEO at Irwin Mitchell. We’ve refreshed our strategy following an annual review and will be seeking to build on our strengths with a market-leading position in complex personal injury; growing our share of the markets for private client legal services, financial planning and investment management via IM Asset Management and will continue to build close, supportive relationships with our business clients so that we are the firm of choice for mid-market corporates.”