North East commercial law firm Muckle LLP has reported another record-breaking year of revenues and rising profits.
Muckle, which has its head office in Newcastle and a regional hub in Penrith in Cumbria, recorded a turnover of £16.3m for the year ended March 31, a 14% rise on 2022 and the second year running the company recorded double-digit growth. The firm also delivered increased profits, with operating profit rising 14% to £3.8m.
During the year it continued its expansion and footprint in its agriculture and rural estates team, bringing on board a number of new clients. The firm also saw growth within all its teams, with banking growing by 45%, construction 44%, and disputes by 30%.
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Managing partner Jason Wainwright said the company’s success comes down to its open, people-led culture and focused growth strategy, which began in 2020, as well as its continued expansion in Cumbria, and commitment to its people, clients and communities.
He said: “We absolutely believe that our values and culture, which underlies all that we do, helps us to deliver a strong and productive workplace for our people, enables our consistently excellent client experience and underpins our ability to hit our targeted growth trajectory.
“Our business grew in size and capability in 2023, with an additional 15 employees, including some senior investments into some high growth teams, such as charities and agriculture and rural estates, as well as our new hub in Cumbria. We have also continued to invest into our home-grown talent with six promotions at the start of 2023 including three to partner in our agriculture and rural estates, real estate disputes and sports teams respectively.
“Our investment into the communities in which we live and work continues through our Muckle Community Fund where we have supported over 700 charities with over 692 grants adding up to in excess of £650,000 since its inception in 2002.
“We were pleased to expand the geographic footprint of our awards, making grants to charities supporting families and young people in Cumbria. We continue to encourage our people to support our ESG strategy and, this year, have seen such diverse activities as litter picking in Leazes Park, working at the West End Foodbank and taking on the Lakes 3000 challenge raising in excess of £12,000 with the generosity of our contacts and clients. We were honoured to accept a Shared Value Award from Oasis Community Housing for our continued support of homelessness in the region as well as our recent win of the North East Chamber of Commerce Award for Community Business of the Year.
“Reflecting on the past 12 months, we are proud of our continued and consistent financial and business achievements and the leadership role we play within the North East and Cumbria, its businesses and communities. We are the different kind of law firm that we strive to be.
“Looking forward, we are pleased to report that our momentum continues and our turnover is 8% up on Q1 on the same period in 2022. We have a strong team with some exciting building blocks for continued growth, innovation and profitability in place for the future which we look forward to with confidence.”
During the year Muckle’s corporate team was named Experian’s Most Active Dealmaker of 2022 in the North East and 11th in the UK. It was also recognised as Business of the Year in Northumberland and Tyneside at the North East Business Awards.
