Shulmans ahead of growth plan as half-year turnover rockets by 25 per cent

Leeds firm Shulmans has reported a 25 per cent increase in turnover for the first six months of the current financial year, breaking through the £4m barrier.

Turnover for the half-year rose from £3.3m in the first six months of 2012/13 to £4.1m at the end of September this year.

The results follow record results for the 2012/13 financial year, when the firm reported revenues of £7.8m, hitting its five-year growth target set in March 2010 of a 50 per cent increase in turnover. 

Shulmans achieved this target in just three years, with year-end figures for 2012/13 showing a cumulative increase in turnover of 50.19 per cent from £5.2m in 2009/10.

The firm attributed its success to expanding into sectors such as telecoms and foreign investments and appointing new staff. There are 126 people currently employed by Shulmans, up from 109 in July 2012.

Shulmans’ managing partner Tim Halstead said: “The firm continues to demonstrate solid growth, not through mergers or acquisitions, but through our strategy of developing into new sectors, and by taking on talented new solicitors to join our team.”