National firm Irwin Mitchell today reported a dramatic profits bounce-back as it continued to invest in new offices and acquisitions. In the year to 30 April, pre-tax profits at Irwin Mitchell Group rose 45% to £21.7 million on turnover up 10% to £304.3m. At year end the firm held £58.8m in cash, 32% up on the same period in 2023.

Today's results are a contrast with last year's, when the firm reported a 29% fall in pre-tax profit. The firm said the figure reflected investments in IT infrastructure, marketing spend and transaction-related professional fees to help position the business for long-term growth. 

In 2023-24 the firm opened a new office in Brighton and completed deals to acquire Silk Family law in the Northeast of England and invest in Wright, Johnston and Mackenzie in Scotland. The two deals contributed £4.1m of revenue.

Craig Marshall, group chief executive, 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.'

Meanwhile formerly listed firm DWF today issued a statement claiming a 14% increase in annual revenues to £435m but declined to disclose profits.