By: 30 November 2017
Shulmans reports mid-point turnover spike

Shulmans has reported an increase in turnover of 28.9% for the first six months of the financial year 2017/18.

The results showed exceptional trading, especially in its credit management services division and in the work that the firm does for banks and other lenders in the remortgage market.

They come on the back of a solid end of year position, which confirmed a rise in fee income of 7.5% in 2016/17.

Shulmans also reached a major recruitment milestone within the past 12 months, with more than 200 people now working at the firm’s Wellington Place headquarters in Leeds.

Kayleigh Watson (corporate finance), Laura Giltrap (employment), David Ryan (commercial property) and Maria Fert (construction) all qualified after undertaking training contracts with the firm in the last 12 months.

Shulmans managing partner Tim Halstead (pictured) said: “This half year period has ended with unprecedented results. We have an ever-growing team, who represent the very best legal talent. We are proud to be inspiring the next generation of lawyers in the region.”

In August, Shulmans reported a threefold increase in profits over the past seven years, following an uplift in fee income of 7.5% in 2016.

The firm’s corporate finance team concluded more than £250 million of merger and acquisition transactions in 2016, while its property specialists handled more than £4 billion of secured lending work last year. Both departments greatly contributed to the growth in fee income.