Weightmans law firm has announced an impressive financial performance, achieving a turnover exceeding £140 million. The Liverpool-based company, operating across multiple UK cities, reported a significant 12% rise in income.
The firm, employing over 1,500 people, witnessed a remarkable 41.1% increase in net profit to £18 million. This growth reflects the firm’s strategic initiatives and robust performance across its divisions.
Weightmans’ merger with RadcliffesLeBrasseur in 2022 has significantly contributed to its record-breaking year. The merger facilitated the creation of seven key client segments, helping the firm achieve substantial organic growth.
Six divisions reported double-digit revenue growth, including built environment, health, individuals, insurance, owner-managed businesses, and public bodies. Meanwhile, the corporate department exhibited a 6% increase in growth.
John Schorah, managing partner, highlighted the strong financial results from its employment, property litigation, regulatory, and specialty insurance services.
The firm also launched CyXcel, a cyber consulting business, successfully expanding its legal and technical expertise into North America.
These initiatives have not only met but exceeded the firm’s strategic objectives, leading to an enhanced service offering and business operations.
The cultural and employment practices at Weightmans are a cornerstone of its success, maintaining its Top Employer status.
The firm promoted 15 professionals to partnership and appointed 12 as legal directors, reflecting a commitment to professional development.
Fifteen lateral partners joined, enhancing the firm’s capabilities and supporting its growth trajectory.
For the shortened financial year ending March 2024, Weightmans reported an income of £128.44 million and a net profit of £16.49 million.
All staff received a bonus of nearly £3,000, recognising their contributions towards the firm’s successful year.
The financial year adjustment to an 11-month period did not hinder Weightmans’ progress, with positive outcomes in revenue and net profit.
The firm is strategically positioned to continue expanding its influence and aims to become one of the UK’s Top 30 law firms.
Weightmans’ investment in educational programmes, such as graduate and apprenticeship schemes, underpins its success.
Maintaining a ranking in the Top 75 Employer Index, the firm showcases its efforts in making the legal field accessible.
Weightmans’ stellar year stands as a testament to its strategic foresight and the unwavering dedication of its workforce.
As the firm plans further expansion, its commitment to excellence and innovation remains steadfast.
Weightmans’ record-breaking financial results underline its commitment to strategic growth and excellence. Moving forward, the firm is set to leverage its achievements to advance its standing in the legal industry, ensuring continued success.
