The firm, which also has offices in Teesside, Leeds, Manchester and Birmingham, saw turnover rise 11.6% in its latest accounts
(Image: Ward Hadaway)
North East law firm Ward Hadaway says it has seen record financial results in its latest accounts, with turnover rising 11.6%.
The Newcastle law firm, which also has offices in Teesside, Leeds, Manchester and Birmingham, reported turnover of £53.6m in the year to the end of April 2024. Operating profit was broadly static at £17.2m in a year of investment.
Ward Hadaway said that revenue increased across all departments with particularly strong performances from the housing, private client and commercial disputes teams. Growth was also recorded across all of its offices, led by Manchester, which achieved revenue growth of 42%, with Leeds also delivering double digit growth.
The saw the company opening of a new office in Birmingham to extend its presence in the Midlands. Since the year end, it has completed a merger with the Teesside-based Endeavour Partnership.
The accounts say: “The members are pleased with the strong financial performance with revenue increasing to a new record level of £53.6m, up 12% year on year, with good growth over many of our business areas and in both our Leeds and Manchester offices, supporting the investments we have made.
“Our operating profit and balance sheet position allow us to look forward to the future with confidence where we will continue to invest in our people’s and our clients’ future. Further strengthening our client services and our technology infrastructure will inform our investment priorities along with continuing our strategies around health wellbeing and inclusiveness.”
Managing partner Steven Petrie set ambitious growth targets for the firm when he took over the top job in 2024, saying he wanted turnover growth 50% within the next five years and then doubling the firm’s size over the next decade to get to turnover above £100m.
He said: “These results reflect a sustained period of disciplined growth across the firm. We have delivered consistent performance across our offices and service lines, which is particularly significant given the wider economic and market conditions. Our focus has remained on building strong teams, investing for the long term and delivering high-quality advice to clients across all sectors.”
Mr Petrie added: “Our ambition is to grow in a way that is sustainable and aligned with our values. The merger with The Endeavour Partnership and the opening of our Birmingham office are clear examples of this approach. They broaden our expertise and geographic reach while allowing us to maintain the culture and standards that underpin the firm’s success.”
The company said that investments for 2026 would include a number of new partner appointments across all of its offices and a move to a larger office space in Birmingham.
