North West law firm Weightmans says it has generated record revenue of £145m in the year to the end of March.
Ahead of full accounts to be published later this year, the Liverpool-based firm said it had seen a 3.4% increase on the previous year - its fourth consecutive year of growth. It said net profit was £15m, representing its second highest in its history.
Bosses said there had been "standout performances" in several practice areas including the firm's claims division (insurance and healthcare) and regulatory teams, where gross profit targets were exceeded. Private Wealth was highlighted as a key driver of revenue and profit growth, while HR Rely - Weightmans' fixed-fee outsourced HR and employment law service beat all of its revenue, sales and profit targets.
The year also saw the launch of the firm's cyber consultancy, CyXcel in North America. That came as £10m of international revenue was generated from legal advice.
Weightmans also bolstered its team during the year, with 21 lateral hire partners, which along with internal promotions brings the partnership to 267, up from 231 the previous year. At the same time the firm welcomed its largest ever trainee and apprentice with 87 new starters.
Sarah Walton, who became managing partner at Weightmans in April and its first female managing partner, having succeeded John Schorah, said: “In a tough economic environment, we’ve sustained growth and maintained our momentum, which is impressive following on from the exceptional performance we achieved in our previous financial year . That success has enabled us to invest significantly in bolstering our client offer – including building out our hugely successful cyber security division CyXcel into a uniquely integrated global advisory offering.
“Looking ahead, our strong financial position allows us to continue investing in what matters most: tech and innovation, our people, and delivering exceptional service to clients both in the Ƶ and internationally.”
The firm listed a number of other achievements including being recognised as a Top Employer for the 18th consecutive year with a top-five national ranking. It also ranked second-best among the Ƶ's 75 largest law firms for greenhouse gas emissions by The Lawyer.
Elsewhere it was given Platinum status by EcoVadis, putting it in the top 1% globally for sustainability performance. And it featured in The Legal 500 Ƶ Green Guide for the second consecutive year.
