North West firm Weightmans has reported growth of 7 per cent for the first six months of the financial year, bringing in just over £41m compared to £38.3m at the same point last year.
Managing partner John Schorah said the growth had come from across the business, with the firm’s core insurance team performing most strongly – particularly its large-loss and disease group. Commercial litigation and family were also doing well, and the firm’s corporate practice had seen a 22 per cent like-for-like increase on last year (13 November 2012).
Weightmans’ small pre-litigation arm, known as ‘Converge’, also had a good start to the 2013/14 financial year, reporting growth of 60 per cent.
The firm is budgeting for full-year growth of 8.5 per cent from its 2012/13 revenue of £82m (15 May 2013). In previous years, the second half has traditionally been stronger than the first for Weightmans. Last year it brought in 14 per cent more revenue in the second six months than in the first six months.
Schorah said the firm’s continued focus on lockup had also been successful, with debt reducing from £12m at the half-year point in 2012/13 to £7.6m this year. Weightmans reported net borrowings of £9.5m at the 2012/13 year-end, according to research for The Lawyer’s UK200 2013.
Weightmans has mainly focused on organic growth in the last six months, although it benefitted from the collapse of Midlands firm Challinors by picking up a family team in Birmingham (27 August 2013).