Law firm Irwin Mitchell, which has a prominent presence in the serious injury law field, has seen its turnover pass £300 million for the first time.
Irwin Mitchell has reported that its growth trajectory has passed £300 million revenue, significantly growing profit before tax in the most recent financial year.
The firm has stated that group revenue was up 10% to £304.3m for the year ending 30 April 2024 while profit before tax was £21.7m, up 45% on the prior year, and that the firm’s year-end Group Cash position of £58.8m is also £14.4m higher than last year.
Irwin Mitchell says that the record revenue follows the firm’s continued investment in future success including the opening of a new office in Brighton as well as completing deals to acquire Silk Family law in the Northeast of England and invest in Wright, Johnston and Mackenzie in Scotland.
The acquisitions contributed £4.1m of revenue to the Group accounts following their completion in the second half of the financial year, the firm reports.
Craig Marshall, Group Chief Executive, stated in a press release: “Despite a year of significant change in the business we’ve demonstrated remarkable resilience to deliver a strong performance. We have a strong balance sheet and head into the new year with positive momentum as we focus on becoming a more agile and dynamic business for the future delivering sustainable and profitable growth.
“Our client and colleague experience continues to stand out from the crowd and our latest results are testament to the hard work of our colleagues throughout the year.
“I’m excited about FY25 which will be my first full year as CEO at Irwin Mitchell. We’ve refreshed our strategy following an annual review and will be seeking to build on our strengths with a market-leading position in complex personal injury; growing our share of the markets for private client legal services, financial planning and investment management via IM Asset Management and will continue to build close, supportive relationships with our business clients so that we are the firm of choice for mid-market corporates.”
The organisation has also confirmed that the Irwin Mitchell Holdings Board will donate £500k to the Irwin Mitchell Charities Foundation (IMCF) which funds good causes in the UK and abroad.
