Growth In Turnover and Profit For Full Service Law Firm
Irwin Mitchell has announced significant growth in its turnover and profit for the 2018-19 financial year.
Turnover for the group was up by nine per cent to £263.2m (FY18 £242.8m) with profit rising by 76 per cent to £21.3m (FY18 £12.1m).
Group Chief executive Andrew Tucker said the results reflected how all teams across the group were working more closely together than ever before with clients increasingly using more than one service line. Brand awareness is also continuing to grow with Irwin Mitchell independently recognised as a Superbrand for the first time.
Expert Opinion“We have successfully grown turnover for nine consecutive years and that is testament to the hard work and determination of all of our teams to deliver an excellent client service whether that is for businesses or individuals.
“We offer a wide, but complementary, range of legal and financial services and our client engagement is strong: they tell us our service is consistently good and distinctive. We have an extensive programme to enable us to really understand what our clients value which helps us deliver our services more effectively.
“We are also investing further in our people and ensuring that Irwin Mitchell is a great place to work. We now have a dress for your day policy, we have more than 400 members of staff adopting official flexible working patterns, with many more agreeing informal arrangements. We have continued to develop wellbeing with our line managers are undergoing specialist mental health training to be able to support colleagues who may need some help.
“These and other initiatives are driving our growth in revenue and profit.” Andrew Tucker - CEO
Irwin Mitchell recently opened a new Reading office taking the number of locations in the UK to 15 and is investing in marketing and technology as the firm seeks to grow further. At the start of 2019 several non-lawyer directors from IT, HR, marketing and operations were also added to the executive board.
This year the firm promoted eight people to partner with 90 associate and senior associate promotions. Its gender pay gap was amongst the best in the industry and 43 per cent of partners are now female.
Alongside its market-leading complex personal injury division the firm is also ranked among the most active deal-making law firms by Experian and is the 3rd most active litigation law firm in UK courts. Irwin Mitchell is also the main UK member of First Law International (FLI), a global network of over 80 independent national law firms.
Outside of legal services, Irwin Mitchell’s wider group companies Ascent (debt collection for banks and SMEs) and IM Asset Management, which now has over £700m funds under management, continue to perform well and Irwin Mitchell also completes more than 2,000 tax returns each year through its tax advisory service.