Turnover (£m): 13
RPL (£k): 165
Wright Hassall reported yet another increase in turnover for the past year, this time increasing 9.4 per cent from £11.9m to £13.02m.
Net profit was also up from £1.9m to £2.72m. Managing partner Richard Lane attributed the solid performance to a committed partnership and prudent management.
Among the ways the Leamington Spa firm kept expenditure under control was a shift from external to internal training. Lane added that it also invested in IT to improve efficiency. While the litigation and commercial practice areas continued to grow, Wright Hassall also added Eleanor Deady, previously head of commercial property at Cobbetts, to its real estate team.
The firm is currently rolling out a new debt recovery offering, on which two non-lawyers are acting. The decision taken in 2009-10 to move towards conditional fee work continued to affect the firm’s lockup, which increased from 159 to 172 days. The firm’s target is 134 days.
In terms of revenue, Lane reports that the firm is already 6 per cent ahead of the same point last year.