Profit remains static at Ward Hadaway

North-East player Ward Hadaway has announced its year end results, showing increased turnover but static profits.

Turnover was £21.6m, a six per cent increase on last year’s £20m. However profit per equity partner (PEP) has remained the same as 2004/5’s £370,000.

Managing partner Jamie Martin defended the results: “This year is the eighteenth anniversary of the founding of Ward Hadaway, and these figures represent the eighteenth consecutive year of growth.

“Our average annual growth in the last ten years has been 14%, and this is a tremendous achievement of which we are very proud.”

The firm has also invited three associates into the partnership, and promoted six solicitors to associate roles.

The new partners are: Emma Sewell in the corporate finance team; healthcare property specialist Simon Priestley in the public sector property practice; and Nicola Richardson, a member of the healthcare group.

Martin said the promotions reflected the firm’s strong performance in property, construction and corporate finance. Ward Hadaway now has 58 partners, 33 associates and about 80 assistants.

Highlights of the last year for the firm include a number of LIFT projects for the NHS; being appointed to the National Framework Panel for the government’s Building Schools for the Future agency; the firm’s appointment to the legal panels of Newcastle City Council and development agency One NorthEast; and its reappointment to English Heritage’s national panel.