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North East firm Ward Hadaway has announced its year-end results, showing increased turnover but static profits.
Turnover was £21.6m, a 6 per cent increase on last year's £20m. However profit per equity partner (PEP) has remained the same as 2004-05's £370,000, as first reported on www.thelawyer.com (14 June).
Managing partner Jamie Martin defended the results: "Ward Hadaway was founded 18 years ago and these figures represent the eighteenth consecutive year of growth. Our average annual growth in the past 10 years has been 14 per cent 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 around 80 assistants.
Highlights of the past 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.