Manchester firms continue to grow

Manchester firms experienced respectable revenue growth this year as the North West market continued to cope with the economic downturn

Halliwell Landau’s turn-over grew by 13 per cent, down on a 20 per cent rise the year before, while Pannone & Partners saw a 16 per cent rise compared with 20 per cent the previous year. Following its merger with Read Hind Stewart, Cobbetts saw its turnover leap by 44 per cent. However, a like-on-like comparison, including Read Hind’s figures for the previous year, reveals a 15 per cent increase, the same as in the previous 12 months.

Pinsent Curtis Biddle, a relative newcomer to the Manchester scene, has released turnover figures for that office for the first time. Revenue per partner was fairly low at £270,000. The firm’s national average revenue per partner in 2001-02 of £535,000 was almost double this figure.

Hammonds, which recorded a turnover of £135m and profits per equity partner of £275,000 nationally last year, saw flat growth in Manchester, recording £19m compared with £19.4m in 2001-02.

Pannones managing partner Joy Kingsley said: “It feels like growth has been sustained far better than it has in London. The property market is still quite busy here, for example, although people are waiting for it to tail off.”

Manchester firms’ turnover
Firm Turnover (£m) Turnover 2001-02 (£m) No. of partners Revenue per partner 2002-03 (£K) Revenue per partner 2001-02 (£K) No. of lawyers Revenue per lawyer (£K)
Halliwell Landau* 35.5 31.1 68 520 456 183 194
Cobbetts** 25 18 80 312 327 114 219
Pannone & Partners 24.5 21.3 64 380 361 150 163
Hammonds 19 19.4 31 613 n/a 103 184
Pinsent Curtis Biddle 3 n/a 11 270 n/a 28 107
*includes London office
**includes Leeds office
Source: The Lawyer