Winckworth Sherwood has continued its programme of lateral hiring during the past year, reaping the benefits with an 8 per cent turnover increase of £1.6m to £20.9m.
Of particular help was the February 2010 hire of Dawsons employment head Jo Keddie and her team, which contributed to the significant growth of Winckworth’s employment practice.
Despite continuing tough pricing conditions, the firm’s housing team also performed well. Around a third of revenue came from property work. Winckworth also has a thriving education team, benefiting from government initiatives such as academies.
In total the London-based firm grew its partnership by six during the 2010-11 financial year. Profitability was stable, with average profit per equity partner sitting at £404,000 and a margin of 29 per cent. Earnings per partner was almost half that figure at £212,000.
The firm did not have to increase its borrowings or capital contribution during the year.