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Newcastle firm Watson Burton has enjoyed a second record year, with turnover up 29 per cent.
The firm posted figures of £13.8m for the financial year to 30 April, up from £10.7m in 2003. Revenues in 2003 grew by 27 per cent from 2002’s £8m. Growth within departments this year ranged from 20 to 40 per cent. Profits per partner have yet to be finalised.
Senior partner Andrew Hoyle puts Watson Burton’s success down to the quality of his staff, adding: “There’s been a lot of hard work. Good teamwork is what we’ve got going at the moment.”
Hoyle said he hopes next year will be equally successful. The firm is budgeting for an 18 per cent increase in turnover between now and next April.
Watson Burton has grown substantially over the past year, having hired three new partners to bring the total number to 26, although less than 10 of these are equity partners.
The firm converted to limited-liability partnership status on 1 May and will shortly be moving to custom-built offices in Newcastle Upon Tyne’s St James’ Gate to accommodate the expanding practice.