Walker Morris LLP
UK Top 200 position: 66
On paper, Leeds firm Walker Morris had a difficult 2011–12, with net profit dropping by three per cent to £13.5m and average profit per equity partner falling by 11 per cent to £386,000. This was set against a turnover rise of one per cent — up by £400,000 to £41m.
The firm has had a remarkably stable few years, with little change in its partnership. Only eight partners have left the firm over the past five years, and just two of them quit for another firm, both during the 2010–11 financial year.
In September 2012, the firm hired the Office of Fair Trading's (OFT’s) former director of consumer credit, Ray Watson, as a director. Although a non-lawyer, Watson's 28 years of experience at the OFT makes him a valuable asset to the firm's regulatory offering.
Despite the decrease compared with the previous year, Walker Morris remains a profitable firm compared with its regional peers. Its profit margin remains at 33.9 per cent — slightly down on 2010–11’s 34.2 per cent but still very healthy.
Earnings per partner were also healthy at £310,400, while each of Walker Morris’s 48 partners generated £854,000 in revenue last year.
Walker Morris continues to be litigation focused, with 45 per cent of revenue generated through contentious work. Its corporate team accounted for 22 per cent of income — the same as the previous year. Many clients are now based outside the firm’s home region of Yorkshire, with client wins during the year including seven district and borough councils in Norfolk, projects company DB Schenker and the East London Waste Authority.
News from Walker Morris LLP
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Briefings from Walker Morris LLP
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The Department for Education aims to contribute £392m for the current financial year to the Academies Capital Maintenance Fund.
Analysis from The Lawyer
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Steady as she goes is the theme at Leeds firm Walker Morris, with high profitability offering a clue as to why so few partners move on