Sintons financial results released
Law firm Sintons has announced a rise in both profit and turnover, as the business begins to reap the rewards of its strategic growth plans.
Newcastle-based Sintons posted a 2.8 per cent increase in turnover for the financial year ending January 2018 to £13.8 million, alongside a strong 7.3 per cent rise in operating profit.
The results for the past year are the first since the firm unveiled its Strategy for Growth and show a strong performance from across the whole Sintons operation, with its corporate and commercial team seeing significant levels of growth – through involvement in a host of high-profile deals, including the latest hotel purchase by rapidly-growing Gainford Group – and its healthcare, neurotrauma and insurance litigation teams continuing to break new ground nationally.
To support its growth, Sintons has made continued investment in the development of its people, with its accounts revealing a rise of over £100,000 in staff training costs.
Mark Quigley, managing partner of Sintons, said the results show the firm is building on its long-standing success as one of the leading legal names in the North of England.
“These results represent an encouraging start to the five-year growth strategy which the firm announced last year,” he said.
“Our aim is to become the law firm of choice for businesses, organisations and individuals through our focus on providing a high quality service, tailored to meet clients’ needs and delivered by the best legal talent.
“Over the last 18 months, we have embarked on an ambitious recruitment drive and are delighted that more than 20 talented lawyers have joined us, many from local firms but a significant number from as far afield as London and Manchester. This brings our total number of lawyers to 113.
“We know that if we are to continue to attract lawyers and support staff of the highest calibre then we need to remain competitive, whilst also providing a great working environment. In addition to our enviable client base and regular involvement in major transactions, our recent comprehensive review of salaries and benefits now makes Sintons an even more attractive place to work, and is indicative of our approach and ongoing investment in our people. Last year we also decided to provide financial support to our graduate recruits before commencing training contracts with the firm.
“We are continuing to make significant investments in a range of IT initiatives, including upgrades to our case and document management systems, enhancing the quality and security of the service we provide to clients.
“Furthermore, we are seeing the benefit of a more targeted approach to business development, with several key client wins across various sectors, as well as appointments to national panels such as the NHS Shared Business Services framework agreement. We were also delighted to win two awards at this year’s Northern Law Awards and many of our lawyers continue to be recognised for their expertise and outstanding client service in both Legal 500 and Chambers.
“Given this recruitment activity and our ongoing investment in people, systems and services, last year’s results are very much a case of ‘so far, so good’.”