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JMW announces another exceptional year
JMW Solicitors LLP has released its 2014/2015 results which again reveal impressive growth in revenue and profit.
Income at the firm is up by 13% from £17.2 million to £19.4 million and provisional profit up 8.5% from £3.5 million to £3.8 million. PEP at the firm grew to £410,000. This is even more remarkable when looked at in the context of the firm’s performance over the past five years as fee income has increased by an exceptional 90% from £10.2 million to £19.4 million now. Personal Injury and Clinical Negligence both remained the most profitable departments in the firm due to their forward thinking investment in technology.
During the last year many departments have achieved increased revenue. The Corporate department led the way with revenue growth of 47% and the final few months of the financial year saw the Corporate department complete deals to the value of £100m. This was closely followed by the Private Client team with a 46% increase. Revenue was also up in Family (20%), Commercial Property (11%), Personal injury (9%) and Clinical Negligence (8%). New clients are joining JMW at an ever increasing rate and the firm received 52% more instructions from new clients than in the previous year. 70% of the work taken on in the past year came from new clients.
The firm has again seen more website instructions, with website revenue up 18% to £1.3 million. Fees from the solicitor’s referral network Lawshare also increased by 84%. The Lawshare network now comprises 198 firms who have joined the scheme at an increasing speed, receiving free training and seminars, cost controlling and management advice as well as an expert home for work they don’t choose to carry out.
Staff numbers have also increased at JMW during the past year from 245 to over 280 with the arrival of several exciting new partners imminent. There were also 19 internal promotions across the firm from 1 May.
Commenting on another successful year for JMW Senior Partner Joy Kingsley said:
“It has been a year of great success at JMW with our record financial performance following the pattern of the last 5 years. We are proud that our strategy of concentrating on the development of our business and that of our clients continues to pay dividends. The addition of new partners and their clients, coupled with the existing strong JMW people, ethos, skills and client care has led to increased success.”
JMW’s Managing Partner Paul Walker commented:
“We are delighted that for the fourth year running we can celebrate outstanding financial results for the firm. We are pleased by the continued growth of all our departments and we are committed to building on our great achievements to become the law firm of choice for clients across all our disciplines. We consider the firm to be in excellent shape going forward.”
For more information:
0161 828 1981
Note to Editors
JMW Solicitors LLP is one of the leading Manchester law firms and offers a broad range of legal services to both commercial and private clients. We are committed to providing legal services in a cost effective and timely manner.