Michelmores turnover rises to £30.1m

Michelmores LLP has announced its fourth consecutive year of growth in 2014/15 − increasing revenue by 15% from £26.2m to £30.1m.

For the financial year 2013/14 the firm also saw strong financial growth at 17.5 %, with compound growth for the last three years reported at 56%.

Net profits have increased by 13% from £5.3 to £6.0m.

Michelmores' highest performing practice during 2014/15 was its Business Group, which increased fee income by 24%. Key deals included the sale of Magicseaweed − the global surf forecasting platform, and the sale of market-leading property consultancy business G L Hearn, to Capita.

Real estate deals included the sale of New Scotland Yard to The Abu Dhabi Financial Group for £370m and acting on the site set-up and residential development at the former Television Centre at White City.

In June 2015, Michelmores supported the launch of the UK's first wholly Chinese-owned law firm YangTze Law. YangTze Law was set up as an Alternative Business Structure, following approval from the Solicitors Regulation Authority. Its aim is to serve the needs of a new generation of mainland Chinese corporates looking to invest in the UK and Europe. Michelmores is also acting for a number of major Chinese corporates including Greenland Group – a Fortune Global 500 Company.

Michelmores' managing partner Malcolm Dickinson, said: "With an improving economy, combined with the hard work and commitment of everyone at Michelmores, we have boosted revenue across all our offices – with London and Bristol showing particularly strong growth.

"We also increased international activity over the last 12 months, which now accounts for approximately 15% of total revenue. This has been supported by our involvement in the YangTze Law initiative, which is an exciting new development for the firm."

Headcount increased across Michelmores' three offices by 45 people during 2014/15, bringing the total number of staff to 447. Four lawyers were also made up to partner in May 2015, including two who first joined as trainees, bringing the firm's partnership to 62.

For more information, please contact Olivia Burrow, Corporate Communication Manager: Olivia.burrow@michelmores.com / 01392 687753