Freeth Cartwright boasts 30 per cent hike in profit

Midlands firm Freeth Cartwright is celebrating a record financial year, with a profit rise of 30 per cent.

The firm saw average profit per equity partner grow from £146,000 to £190,000 in the 2004-05 financial year, which ended on 31 March.

Turnover was also up, rising to £25.2m – an increase of 17 per cent on the previous year. It is the first time Freeth Cartwright has broken the £25m barrier.

Chief executive Peter Smith said the rise was across the board and that all of the firm’s departments had performed well. However, he pointed to the commercial services and commercial property teams in particular.

“We’ve been investing in new people over the past number of years,” said Smith. He added that new premises in Nottingham and Derby had also helped improve the atmosphere in the firm.

Smith said he hoped that the firm would be able to maintain its current profitability going forward.

“One of the things that’s important for us is sustained growth,” he said.

Freeth Cartwright has offices in Derby, Leicester and Nottingham and currently has 60 partners in addition to 82 other fee-earners.