Newspaper article The Journal (Newcastle, England)

Record Turnover of PS33.5m for Law Firm; LEgaL

Newspaper article The Journal (Newcastle, England)

Record Turnover of PS33.5m for Law Firm; LEgaL

Article excerpt

Byline: coreena ford coreena.ford@ncjmedia.co.uk

LAW firm Ward Hadaway has marked its fifth consecutive year of growth with annual turnover rising to a record PS33.5m.

The UK Top 75 firm, which has offices in Newcastle, Leeds and Manchester, increased turnover from PS33m to PS33.5m in the year ended April 2014, a small rise of 1.5% against a background of intense competition in the legal sector.

The firm said it has seen growth of over 10% over the last two years, with that figure doubling to 20% over five years, and headcount now stands at almost 450 people across the North.

Jamie Martin, managing partner of Ward Hadaway, said: "Competition in the legal market place is intensifying with the arrival of new entrants and existing firms looking to grow their market share as a result of consolidation, set against that backdrop and the need to keep costs under control, the fact that we have continued to grow our business across all three offices is very pleasing, with a number of practice areas seeing significant growth."

The firm, which has its headquarters in Newcastle said it has consolidated its position as one of the leading law firms for contentious business in the North by securing revenues of PS16m within the firm's litigation department, representing just short of 50% of the firm's total turnover.

The 50-strong property team was heralded as being one of the best performing departments, growing income by almost 16% through work in both private and public sectors, advising clients including major national supermarket chains, national housebuilders and commercial developers, NHS organisations and councils undertaking large-scale building schemes.

The firm also retained its title of PFI Law Firm of the Year in England in 2014 having first won the award in 2013. Within the company's commercial team, incomes increased by just over 71% having been involved in energy sector projects, including a series of renewable energy developments at farms across the North and on schemes in the offshore, oil and gas and chemical sectors. …

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