Newspaper article The Journal (Newcastle, England)

Muckle LLP Sees 25% Sales Rise in First Quarter; LEGAL

Newspaper article The Journal (Newcastle, England)

Muckle LLP Sees 25% Sales Rise in First Quarter; LEGAL

Article excerpt

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

NORTH East commercial law firm Muckle LLP has posted a 25% rise in sales in its first fi-nancial quarter after completing PS347m worth of deals.

Directors said the strong results have been generated through a strategy of focusing on the company's core heartland across the region's business community.

In all, Muckle has completed 36 corporate deals since the beginning of the year - transactions spread across a sectors including manufacturing, technology, energy and pharmaceuticals - and the turnover jump relates to the period from April to June 2015.

The firm said it has bucked the trend over recent years, averaging 5% year-on-year increases in turnover over the last five years.

Since 2010 the firm has diversified and has won work across all sectors and legal areas, no longer relying on a few large teams in the firm.

As a result, the banking team has doubled in size and commercial work has increased by 67%.

Meanwhile, corporate transactionrelated turnover has grown by 17% and real estate development work by 38% over those five years.

Muckle's new managing partner Jason Wainwright said: "Our first quarter results reflect the firm's clear focus on and commitment to be the number one law firm in the North East for business, our approach to client service and value-for-money legal services, our growing client base of local PLCs, owner-managed and family businesses, and our ongoing drive to attract and retain the best talent in the market.

"Over the next five years, our vision is to be the number one law firm in the North East for business. The market opportunities for a firm like ours and our growing reputation mean that we are already well placed to achieve this."

Fee income and profitability for the year ended March 31 2015 dropped slightly as a result of a number of corporate deals that were progressing towards the end of the year rolling over into the firm's new financial year, and as a result of a complex and high value piece of litigation undertaken on a conditional fee basis. …

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