Weightmans posts record half-year results following structure and strategy overhaul

Weightmans has posted its best-ever half-year results, with revenues rising 7% during the first six months of 2017-18.

Turnover increased to £44m, up 7.3% on the previous year. The results are the first since the firm introduced a new structure and strategy in May this year.

The overhaul saw the firm implement a new operating structure, with the business split in two, with one group handling legal operations and the other overseeing client relationships.

The client relationship arm of the firm manages six key client markets – insurance, public bodies, corporates, owner-managed businesses, built environment and private client.

The changes have seen the firm cut the number of practice heads from 20 to 13, alongside a reduction in team leader headcount from 100 to 64.

The half-year results come after Weightmans posted full-year revenues of £95m for 2016-17, slightly down on the firm’s 2015-16 record high of £95.1m, while profit per equity partner rose  18.5% to £295,000.

The results are also the first since new group finance director Bob Granger joined the firm in October. He was previously finance and retail director at homeware retailer Lakeland and head of finance in Vodafone’s technology division.

Managing partner John Schorah (pictured) said: “When we introduced a new strategy in May, growth and success for both ourselves and our clients were central to its implementation and execution, and these results are a testament to that.”

Earlier this year, Weightmans called off merger talks with Newcastle-based Ward Hadaway citing differences in their “respective strategic priorities”. The firm subsequently teamed up with insurance players in the US, Canada and Spain to create a legal network for their clients.