Weightmans has posted a 6.1% increase in turnover for 2013-14, becoming one of the first UK top 50 firms to confirm results for the last financial year. 

The firm saw revenue climb by £5m during the year to a new high of £87m. Alongside the increase in revenue, the firm also saw net profit climb by 2% to £24.1m. Debt was reduced by 64% from £9.6m to £3.5m over the same period.

The growth comes after the firm saw turnover climb by a similar percentage  in 2012-13, when it recorded revenues of  £82m, up from £77.1m in the previous financial year.

Charles Russell has also  fee income grew by 7% to £73.4m, up from £68.8m last year. Profit per equity partner is likely to rise to £350,000, an increase of 16.6% from 2012-13′s figure of £300,000. In February the firm announced it was in talks with Speechly Bircham over a possible merger that would create a UK top 25 law firm with revenues of around £126.3m.

In December Weightmans became the third UK top 50 firm to secure an alternative business structure (ABS) licence. The licence allows the firm to recruit non-solicitor partners and practise five reserved legal activities: the exercise of a right of audience, the conduct of litigation, reserved instrument activities, probate activities and the administration of oaths.

Commenting on the financial results Weightmans managing partner John Schorah (pictured) said: "This has been another positive year of organic growth and change for the firm. The figures are a direct result of our commitment to providing a truly authentic client service, innovative solutions and above all, teamwork.

"This year we are continuing our focus on technological innovation, making significant improvements to our processes internally, but also externally enhancing client experiences. Over the next 12 months we will continue to invest in our business, for our clients and our people, and strengthen our brand as we continue to grow."