Birmingham-based law firm Shakespeare Putsman has reported its first set of results following the merger of the two businesses last year.
The company, the largest single-site law firm in the city, generated a profit per equity partner (PEP) of £202,000, while revenue for the year to March 31 came in at £19.2 million.
The company, which employs 290 people, took on 45 new staff during the year as it expanded its range of services to a growing client base, which although focused strongly on the region includes firms across the UK from Edinburgh to Bournemouth.
The new partners are based in the firm’s insolvency, employment, insurance, property and commercial teams.
Chief executive Paul Wilson said he was delighted with the progress the firm had made in its first full year of operations but conceded things were likely to be tougher in the year ahead. “Last year saw major growth for the company, especially in the Commercial and Property sectors.
The results are very good and provide us with a strong platform moving forward,” he said.
Looking at the year ahead, he said that the strong foundation was likely to be important as the company looked to maintain its growth, albeit at a reduced rate. “The economy is fragile at the moment and clients are seeing a downturn, especially in the property sector.”