Walker Morris profits leap

The firm's turnover, which was £26m for the financial year 2000/2001 has leapt to £31m. And its competitors will be left reeling at partner profits, which have increased from £400,000 to £446,000.
"It's just a continuation of the same strategy which is developing a centre of excellence here in Leeds," said managing partner Peter Smart. The firm has a total of 40 partners, 26 of whom are equity. Equity partners at the top of the scale can expect to earn around £550,000, up from £410,000 last year.
The strategy of the firm is not, however, to focus solely on Leeds. "We are developing client relationships, not only in Leeds, but also outside the region," said Smart. The firm has recently won new clients in Lancashire and Bristol.
Smart said all his firm's departments had increased profitability. He pointed to the fact that other regional firms have lost their way. "There is a fundamental flaw in the international aspirations of regional law firms - and you can quote me on that."