Newcastle law firm Sintons LLP has grown turnover for the seventh year running following a strong year for its healthcare and commercial divisions.
The firm showed growth across all departments and sectors, resulting in a rise in revenues of 12% to £15.8m for the year ended January 2014, while also posting an 11.6% rise in operating profit from £4.3m to £4.8m.
During the accounts period, the firm increased market share in several key areas, and also oversaw some of the region’s largest deal, while also making its first ever acquisition of another law firm through the addition of family law firm Lowthian Gray.
The company also sought to invest in people, swelling its ranks from an average of 181 to 224, and it has continued to recruit during 2014, taking headcount to more than 250.
Over the course of the period the firm’s commercial group acted in the £37m management buyout of Prudhoe wholesaler DE Pharmaceuticals, the sale of the Head of Steam Group to Camerons Brewery, and the restructuring of the Malhotra Group with a £26m funding of its healthcare operations.
Alan Dawson, chairman of Sintons, attributed the firm’s progress to its commitment to developing and investing in its staff and core business even during the recession.
He said: “For more than 10 years, we have invested continually in the business, employing outstanding legal talent, both at senior and trainee level, and are able to offer an unrivalled service to clients across all areas of the business.
“At Sintons we are committed to developing our people at every level, and have built up a reputation for excellence across all areas of the firm.
“We are extremely proud of the growth we have seen, and continue to see, across the firm. Last year was also the tenth year anniversary of our move to The Cube, our building in the city centre, which in itself is a vivid representation of how far we have come during that time.”
Among its numerous new staff appointments, which included apprentices and trainee lawyers, were the addition of six new partners and the arrival of several heavyweight legal figures.
Barry Speker joined after 42 years with his previous firm, development lawyer Alan Harkness joined Sintons along with his specialist team, and leading matrimonial specialist Katharine Lowthian became Head of Family Law after her niche family law firm joined the company’s ranks.
Mr Dawson added: “As custodians of the firm we have always invested in our business and our people, through good times and bad, and that is absolutely central to what we do.
“It is essential for the future of Sintons that our commitment to clients and staff always remains our priority.”
Remuneration to LLP members charged as an expense reached £4.64m, up from £4.08m, and the number of members rose by two to 28.
The share of the profit to the member with the largest entitlement was £271,886, up from the previous year’s largest entitlement of £214,655.