Following a buoyant 2009-10, thanks to a significant payout from a conditional fee arrangement (CFA), Russell Jones & Walker (RJW) had a relatively quiet 2010-11.
Turnover rose by 4.6 per cent, from £40.6m to £42.5m, while net profit fell by 24.4 per cent, from £9m to £6.8m. This comes on the back of a year when the firm secured a £20m payout for a group action CFA against several high street shops for people suffering various ailments as a consequence of chemicals used on sofas.
The win boosted coffers at the 2009-10 year-end, but figures for the latest year, while estimated, reflect a truer picture of the firm.
With its consumer focus and trade union client base, RJW keeps quiet on its finances. It is understood that around 40 per cent of revenue is generated by the work it conducts for the Police Federation, a staff association for the police force.