Hammond Suddards boasts record profit

Hammond Suddards' turnover has hit a record high over the past six months, breaking through the firm's £40m ceiling.

Income at the firm has increased by 18 per cent from May to October in comparison to figures for the same months in 1998.

Hammond Suddards' partner numbers have increased from 84 in 1998, to 100 now, and the total number of staff is up from 1,177 to 1,381.

Chris Jones, HammondSuddards' managing partner, says: “Our half-term profits are the best we have ever had. It makes us very happy.

“Turnover is growing substantially year on year.

“Our turnover in six months is now the same as what it was per annum only four years ago. In 1996 we only made £40m in a year.

“I think this is the case because of two reasons. Firstly, we took on a huge number of people.

“Secondly, the Manchester office is doing hugely well for us.

“Turnover there has shot up 26 per cent if you compare the two six-month periods.

“The City is showing signs of having a vibrant market. There is a lot of corporate activity and the area has far less competition than an area like Leeds, which has far more lawyers vying for work.”

However, Jones adds that Hammond Suddards' regional rival Dibb Lupton Alsop was also likely to be profiting from the current boom in the Manchester market.