Irwin Mitchell passes £300m turnover as profits jump 45 per cent to £21.7m
Irwin Mitchell has passed £300m revenue for the first time and significantly grown profit before tax in the most recent financial year.
Group revenue at the firm, which has offices in Glasgow and Edinburgh, was up 10 per cent to £304.3 million for the year ending 30 April 2024 (FY23: £276.4m) while profit before tax, was £21.7m, up 45 per cent on the prior year (FY23: £15.0m).
The firm’s year-end group cash position of £58.8m is also £14.4m higher than last year (FY23: £44.4m).
Craig Marshall, group chief executive at Irwin Mitchell, said: “Despite a year of significant change in the business we’ve demonstrated remarkable resilience to deliver a strong performance. We have a strong balance sheet and head into the new year with positive momentum as we focus on becoming a more agile and dynamic business for the future delivering sustainable and profitable growth.
“Our client and colleague experience continues to stand out from the crowd and our latest results are testament to the hard work of our colleagues throughout the year.
“I’m excited about FY25 which will be my first full year as CEO at Irwin Mitchell. We’ve refreshed our strategy following an annual review and will be seeking to build on our strengths with a market-leading position in complex personal injury; growing our share of the markets for private client legal services, financial planning and investment management via IM Asset Management and will continue to build close, supportive relationships with our business clients so that we are the firm of choice for mid-market corporates.”