Shoosmiths' profits up by ten per cent

Shoosmiths' financial results have gone against the national grain, with a 10 per cent hike in profitability in the last financial year

Profits per partner rose to £193,000 for 2001/02 from £176,000 the previous year. Turnover has increased 5 per cent from £43.5m to £45.1m.
Shoosmiths' financial results coincide with a strategic review that led to the firm's commercial and financial institutions practices merging, and the closure of its Banbury office. The closed office handled predominantly matrimonial work.
The firm is focusing on building the commercial property, corporate commercial and litigation departments. “We're looking to make some quite aggressive moves to do that,” said chief executive officer Paul Stothard.
The firm has also had some good client wins in the past year, including a place on the WH Smith panel and work for the South of England Economic Development Ag-ency (Seeda).