CEO Focussed On Building Strong And Diversified Group Driven By Client Need

National law firm Irwin Mitchell has today announced that its total Group revenue in 2016/17 increased by 6.3% to £235.2m.

Announcing the organisation’s annual financial results, the Management Board said that Irwin Mitchell’s focus on delivering market-leading services across its business, private wealth and personal injury divisions is reaping benefits and providing a solid platform for further growth. 

In a year which has seen the successful integration of Thomas Eggar complete since the merger was announced in 2015, and challenging market conditions the Group has reported a profit before tax of £12.3m* (see notes to editors) – in-line with the previous year.

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.