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Beachcroft has announced a rise in turnover of 6 per cent to £121m, but a dip in profits of 2.9 per cent.
In a statement, the firm said average profits per partner fell from £310,000 to £301,000 at the 2008-09 year end.
Managing partner Paul Murray said the firm had suffered from pressure on rates in its volume business, which includes toutsourced pre-litigation work and bulk employment tribunal work.
Beachcroft’s profitability was affected by its investment over the past year. The firm has expanded its headcount by 21 per cent, which included the acquisition of Eversheds’ clinical negligence teams in Leeds and Newcastle (The Lawyer, 20 October ), the opening of a new office in Dublin and the further acquisition of Kingslegal’s insurance business, which took the firm into the Welsh market (The Lawyer, 5 May).
The firm’s practices of dispute resolution and employment have seen an upswing in work with turnover up 12 per cent in each practice.