North East law firm breaks record with multi-million pound revenue highs
An independent North East law firm has announced that it has seen revenue hit record highs in its latest results.
Muckle LLP has reported record results after turning over more revenue than ever before for the year ending March 2020.
The law firm saw income continue to rise from £13.05m to £13.33m this year, with increased turnover marking its third consecutive year of growth.
Profit decreased slightly from £2.8m to £2.6m, caused by a “significant” investment in technology and premises.
Jason Wainwright, Muckle’s managing partner, commented: “We are delighted to have had another successful 12 months, following an exceptional year of growth in 2019.
“Turnover grew organically across the firm, in line with the continuing staffing investments, and deal activity also performed strongly as we continue to support the growth of some of the North East’s most ambitious businesses.
“Such strong, sustained top-line growth has enabled us to invest further in our IT, culture and infrastructure enabling everyone here to work anywhere, anytime. As a result of this investment, however, profit has reduced slightly from last year.
“This planning and investment has proven to be invaluable, particularly in recent months.
“Nobody could have predicted the challenges brought on by Covid-19, but we recognised some years ago that businesses needed an increasingly efficient brand of legal advice that’s completely focused on supporting their objectives and law firms needed to be robust and agile in their operation.
“That’s what we have worked hard to deliver and it has enabled us to provide a seamless service throughout the pandemic.
“Like most businesses, we saw a turndown at the start of lockdown, however work levels are currently higher than pre-pandemic levels and we are in a strong position moving into 2021.”
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