Revenue and profit up at Beachcroft for 2009-10

Beachcroft has revealed an 8 per cent rise in turnover at the 2009-10 year end to £131m from £121m a year earlier.

The firm’s profit increased to £24.5m from £22.8m. This equates to an average profit per equity partner of £314,000, 4.3 per cent up on the 2008-09 level of £301,000.

Managing partner Paul Murray admitted the firm had intended to spend the past financial year consolidating previous acquisitions but added, “In a fast-changing market and one in which opportunities present themselves and must be seized, standing still is not an option”.

Beachcroft recently acquired London insurance boutique Williams Holden Cooklin Gibbons (WHCG) in April (5 April) and Halliwells’ Sheffield healthcare team (10 February).

Murray commented: “To achieve growth in both revenue and profit in such a challenging environment is no mean feat and should be a source of pride and confidence for our people.” 

Simon Hodson, senior partner added: “Over the last three years we’ve managed the business such that we’ve been able to continue to invest in our key sectors and show a steady return on that investment.”