Click here to access full coverage of Walker Morris in The Lawyer UK 200 2013. Featuring the UK’s leading law firms ranked by turnover, as well as extensive benchmarking data, the report is a comprehensive market intelligence resource for the UK legal sector.
Walker Morris has shown steady growth, announcing a 2.4 per cent rise in turnover from £41m in 2011–12 to £42m in 2012–13.
Litigation continues to provide the greatest proportion of revenue, remaining at 45 per cent of total turnover last year. The contribution of the corporate team rose by one percentage point to 23 per cent of revenue, while the property team contributed 19 per cent.
While the Leeds firm’s net profit dropped from £13.5m in 2011–12 to £13m last year, managing partner Ian Gilbert said the dip in profitability was mainly caused by investment in people during the course of the year. Walker Morris had a busy year, with its lawyer headcount rising from 165 in 2011–12 to 181 in 2012–13, and total headcount rose by 20 people to 479 staff and lawyers.
Hires during the year included Cobbetts’ finance litigation team (7 February 2013), as well as a number of individual lateral hires including former Lloyds Banking Group competition expert Trudy Feaster-Gee, (14 February 2013) and the Office of Fair Trading's former director of consumer credit Ray Watson (13 September 2012). Gilbert said the cost of taking on the Cobbetts team was borne in the last financial year, although the fact they joined towards the year end means the benefit should be seen in the current year.
Walker Morris announced the hire of its first non-executive director in June, appointing former Deloitte managing partner Stuart Counsell (25 June 2013).
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