Law firm, Addleshaw Goddard, has reported better revenues and profits for its year ending April 2024.
The practice, which employs more than 600 staff at its Manchester office on One St Peter’s Square, achieved sales of £496m, a 12% increase.
Total profit for the financial year wass up 14% to £210.5m, while the closing cash position stood at £139.1m.
The firm said two years after opening, its revenue in Ireland has grown by more than 30%.
Addleshaw Goddard boasts 51 of the FTSE 100 as its clients, and said all nine of its core sectors continue to deliver strong, double-digit growth with Financial Services, the largest sector, contributing circa 30% of the firm’s income.
Highlights during the financial year included involvement in several major takeover deals, such as ASDA’s £2.3bn acquisition of Blackbrurn-based EG Group’s UK and Ireland fuel, foodservice, grocery and merchandise business, Coventry Building Society’s £780m acquisition of Manchester’s Co-operative Bank, and Bury-based JD Sports’ $1.1bn acquisition of US retailer, Hibbett.
Other significant matters the firm advised on over the past financial year included Bruntwood SciTech’s £500m investment to support the growth of science and technology sectors in region, working with Parthena Reys on its acquisition of the largest office building in Manchester, helping Peel NRE on its redevelopment of the Fiddlers Ferry power station, advising sportswear brand Castore: advising on its £150m investment round and Diversity Travel on its sale to Primary Capital Partners.
Roger Hart
Roger Hart, Head of the Manchester Office, said: “Addleshaw Goddard has experienced yet another remarkable year, excelling across all our markets including the North West, where our teams deliver outstanding services to clients at regional, national, and international levels.”
More widely, the firm’s performance was driven by office openings in Germany, Middle East and Spain, alongside material investments in tech, core practices and priority sectors to deliver another year of revenue and profit growth.
Andrew Johnston, Addleshaw Goddard Managing Partner, said: “These results show us continuing our positive trajectory with higher revenues, improved profitability and strong cash position.
“We saw growing client demand across a number of service lines, particularly in areas we have been investing in, such as Funds, Restructuring, Global Investigations and Financial Services. Our teams across the UK & Ireland, EMEA and Asia worked incredibly hard to deliver another strong year.”
