North East law firm Sintons has described a strong year in which it generated a significant rise in revenue and profit that has led to investment.
Accounts for the Newcastle-based firm for the year to the end of March 2022 show it made an operating profit of £7.3m, up from £4.8m, on turnover of £15.9m, which was a 27% rise on the previous year. Managing partner Christopher Welch said success coming out of Covid had made possible investment in recruitment, office facilities and technology upgrades.
Sintons said it had seen growth in all of its practice areas which include working for business and private clients across a range of legal services. It was the first year in which its 138 staff - which includes 77 fee earners, 24 secretaries and 37 support staff - benefited from a turnover-based all staff bonus scheme.
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Employees were also given a £1,000 one-off payment to help with the rising cost of living. Meanwhile, 28 partners in the LLP shared £5.6m.
Mr Welch said that while the firm was not immune to what he called "economic turbulence and financial uncertainty", he was confident of its strength. He said "This has been a strong year for us at Sintons as we emerge from the effects of the Covid 19 pandemic and our success has been due to the outstanding ongoing efforts of our team, and the support of our clients, both old and new, who place their trust in us for some of the most difficult decisions that they ever have to take.
"Our people are absolutely central to our success and we are very proud of the highly capable, committed team we have here. They are deeply valued and we want everyone to feel supported in every way.
"In addition to ongoing training, development and progression opportunities, we are very mindful of the economic climate, which is of course at the forefront of all of our minds. By making our £1,000 payment to everyone in the business, we hope to alleviate at least some of the worry and concern we know so many of our staff have in these difficult times.
"The quality of legal advice and service we deliver means that the demand for our services continues to grow and we continue to strengthen and expand our offering as a result. This has been another year of ongoing recruitment, with key appointments made throughout the business. Our commitment to the next generation of legal talent has also continued, with further graduate and solicitor apprentice recruitment and ongoing support of those we have here at Sintons."
Charitable donations of £25,000 also went to Children's Cancer North and Sintons said it had raised £20,000 for The People's Kitchen - it.s nominated charity for the next two years.
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