Wilkin Chapman LLP announces record results breaking £30million fee revenue for financial year 2024

Leading Lincolnshire & East Yorkshire law firm, Wilkin Chapman, has announced a 14% increase in fee income across its four offices in Grimsby, Lincoln, Beverley and Louth in financial year 2023-24 compared to the previous financial year.

The fee revenue figure of £31.17million is against £27.4 million in the last financial year. All four of the firm’s offices saw fee revenue rise – with particular growth in Beverley and Grimsby. Net profit was approximately the same at 24%.

The 14% growth was even more striking given that total headcount across the firm compared to the previous year increased by 4% overall.

“We are very pleased at the continuing confidence in us as a firm from established and new clients and it is testament to the quality of our support that we have achieved such growth. This follows strong growth in the previous financial year which had seen an increase of more than 10% in fee revenue.

“Importantly this growth has enabled us to invest in our people and infrastructure to further help develop the business in the medium term” said Chris Grocock, senior partner, Wilkin Chapman.

The last financial year saw the firm celebrate the first anniversary of its move into new offices in Louth, the creation of its ESG (Environmental, Social and Governance) Strategy Board, the launch of an electric vehicle scheme and the extension of its paralegal apprentice scheme recruiting apprentices from across the region.

The firm’s success and investment were reflected in the number of lateral hire partners it attracted from other firms in East Yorkshire and Lincolnshire. Four partners joined the firm or were promoted in it, covering specialisms from dispute resolution to probate to real estate. It also appointed its first directors of risk & compliance and marketing & BD.

Due to the firm’s performance, employees each received £850 as part of a ‘sharing in success’ payment and private medical insurance for all staff which came into effect in September.