Guildford: Penningtons Manches reports 23% growth in fee income
South East law firm Penningtons Manches, which is growing across the UK and in its new US operations, has reported an increase of more than 23% in fee income in the latest financial year.
Turnover has climbed to £57.5 million, representing a significant rise from 2013-2014 when fee income was £46.6 million. Overall profit has risen by more than 40%.
These new figures reinforce a period of steady growth for the firm, which was joined by the partners and staff of Manches in October 2013 and has now posted an increase in turnover for the sixth consecutive year. During this time the number of partners has risen from 55 to 110. The number of lawyers and other professional advisers at the firm has currently reached 355.
The latest results have been bolstered by a strong performance by the Surrey team which has just moved into prestigious new offices in Guildford at 31 Chertsey Street. The ongoing expansion of its capability in the corporate, real estate, clinical negligence and family sectors in particular, four key areas of practice for the firm, has boosted Penningtons Manches’ overall client offering and revenues.
David Raine, chief executive of Penningtons Manches LLP, said: “This is an encouraging performance and one in which all our offices have played their part. It is a particularly exciting time in Guildford as we continue to lay the foundations for future growth while maintaining the high standards of client service by which our lawyers are recognised.
“Moving into 31 Chertsey Street is a strong signal of our long term commitment to provide a first class legal service to businesses and private individuals in Guildford and throughout Surrey.”
The new Penningtons Manches office was formally opened by councillor Gordon Jackson, the deputy mayor of Guildford, on July 14.
