Cobbetts king of Manchester as Read Hind tie-up boosts turnover

Cobbetts’ year-end turnover following its merger with Leeds-based Read Hind Stewart will see it overtake single-site Manchester rival Pannone & Partners

Cobbetts, which merged with Read Hind at the start of the financial year, has billed £12m since May and expects to hit £25m, while Pannones is looking at £23m.

Over the last three years, Pannones, the largest single-site firm in Manchester, has grossed more than Cobbetts. Cobbetts, however, has been the more profitable of the two.

Last year, Pannones came in at number 74 in The Lawyer 100, grossing £21.3m, while Cobbetts stood at 85 with £18m.

Pannones has adjusted its end-of-year expectations upwards, while Cobbetts is looking to hit target.

Pannones’ half-year results are a staggering 20 per cent up on this time last year, while Cobbetts has enjoyed a 12 per cent increase.

Pannones managing partner Joy Kingsley said: “We were on target to bill £10m in the first half of the year and to reach £21.8m by year end. Now that we’ve made over £11m, we’re looking at £23m or maybe even £24m at year end, as we traditionally collect more bills in the last three months of the year.”