Results released this week by the firm show that revenue made a steady 8.2 per cent improvement from £204m to £221.3m but that pre-tax profit fell from £16.7m to £12.4m over the course of 2015/16.

Short term pain for long term gain

Chief executive Andrew Tucker has attributed Irwin Mitchell’s deflated profit result to a combination of investment and a ‘necessary focus’ on successful integration after the firm's November merger with Thomas Eggar, the largest tie-up in its history. ‘The board is comfortable that sacrificing profit in the short-term will deliver greater benefits to the business in the medium-term as we reap the return on investment and the improved strength and breadth of depth the merger has given us,’ he said.

The results announcement comes in the same week that Irwin Mitchell has made headlines for losing five real-estate partners to rival Dentons.

Sources: Legal Business; The Lawyer