Newcastle-based firm Ward Hadaway has predicted aggressive growth in its preliminary year-end results, with profit per equity partner (PEP) up 50 per cent on last year at around £350,000 and turnover up 17 per cent to £20.3m.
Managing partner Jamie Martin told The Lawyer: “We’ve been the most active firm in the North East in terms of deals, having done 60 with a revenue of £240m. We also have a firm grip on costs. But we’ve been generous with salary reviews – there were no cuts there.”
The firm has jealously guarded its equity, with only 12 equity partners from a total partnership of 53, although Martin says this will increase as the firm grows and people progress.
Martin argues that one key plank of the firm’s success is its renewed focus on the IP and IT sector. “We’re a risk-sharing entrepreneurial firm advising and assisting start-up companies and high-growth technology companies on specific commercial issues,” he said.
Recent client wins include Bede, Zytronic, Biofuels Corporation and Romag. With the latter, Ward Hadaway advised on the implementation of security glass at Arsenal FC’s stadium.
Ward Hadaway’s commercial property and construction teams have also been key drivers of growth. The firm has recently been appointed to the panels of Newcastle City Council, the Arts Council, the General Teaching Council and the Building Schools for the Future.