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Business & Economy

Sharp rise in income and profits for Muckle LLP

North East law firm Muckle LLP has reported an increase in both income and profits for the year ending March 2019.

Turnover has increased from £11.3 million to £13.05 million with profits rising by 51 per cent from £1.9 to £2.8 million.

The firm cites a high level of deal activity and organic growth across the rest of the business as reasons for the strong results.

Managing partner, Jason Wainwright, said: “We have had another successful 12 months, delivering a second consecutive year of double-digit growth in turnover and profit.

“While the economic climate remains uncertain, we are confident that we are well placed to be the business law firm of choice for the North East.

“Already we have made a strong start to the 2019/20 financial year with revenue up versus a year ago, some significant tender wins and several large deals completed and in progress.

Muckle also recently had their Investors In People (IIP) Gold status and Health and Wellbeing accreditation extended to 2022, after a survey revealed that 92 per cent of their people said it was a great place to work.

Jason said: “We are fully committed to attracting and retaining top talent in the region, having made seven partner promotions at the end of the 2018/19 financial year, and the launch of our agile working is proving very popular, helping us to retain our people, attract new talent to our business and improve our efficiency.”

Another factor in the firm’s performance is that they’ve been able to expand their service offering, opening up new teams in the last 12 months in areas such as agriculture and expanded key areas like corporate and commercial.

Jason added: “Our previous investments into our people and new areas of work are starting to deliver results, with our new agriculture team and expanding private client team positively contributing to top and bottom-line growth.

“The commercial and corporate teams’ expansion to cover emerging lines of work in supporting technology and regional start-up businesses, has played a role in their respective successes throughout the year.

“Delivering an outstanding client experience, giving clients real value for money and increasing cost efficiency is at the heart of our growth strategy and is perfectly aligned with the demands of our client base.”