Newcastle law firm Winn Group has seen turnover almost double to a record 拢97.9m despite exceptionally challenging times in its sector.
The Byker business said the milestone figure marks the biggest leap in annual turnover since the company was founded in 2002, and follows the introduction of legal reforms which it said has forced many competitors out of the market. On top of turnover increasing from 拢54m to just shy of 拢100m in the year ended March 31 2022, pre-tax profit soared from 拢1.866m to 拢12.8m, while Ebitda came in at 拢15.76m, significantly up on the previous year鈥檚 拢7.8m.
Winn Group CEO Chris Birkett said: 鈥淓ven throughout the pandemic, as a group, we have been working hard in all areas of the business. As a result of new contracts won, our work volumes have more than doubled from before the start of the pandemic.
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Mr Birkett said the growth allows the company to continue its recruitment drive with aims to double headcount, which currently stands at 530. As well as creating new jobs the firm recently acquired new premises close to its head office to house its growing team.
The company said that conducting huge volumes of claims, coupled with contract wins and acquisition of new business streams, have triggered the growth.
Mr Birkett said: 鈥淲e have recently expanded our premises and located 75 members of staff into a new purpose-built office space. Our sales pipeline opportunities continue to grow and 2022 is proving to be another good year for growth.鈥
Winn Group executive chairman Jeff Winn, who launched the company 20 year ago, said: 鈥淭here always needs to be evolution in any business, so it gives me a great sense of pride to see how Winn Group has become a major player in the industry over the last 20 years.
鈥淕rowing to encapsulate a number of brands that combine to deliver the best one-stop-shop in accident and claims management, the vision is to continue the rapid growth in provision of non-fault insurance and claims services to insurance brokers and the public.鈥
Holding a regular spot in the Top 200 North East companies list, Winn Group said it using its strong technological platform to expand its commercial offering from injury claims, with the launch of its dedicated wills website later this year. Mr Winn added: 鈥淭he vision is to continue this growth at a rapid pace, whilst maintaining a high level of service and a cooperative approach with suppliers and those in the industry.鈥
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