WARD Hadaway has reported a strong business performance.

The Newcastle firm saw turnover rise by 16 per cent to £25m in the 12 months to the end of April, with profit per equity partner (PEP) rising by ten per cent to £405,000.

The record figures mean Ward Hadaway has achieved an annual growth rate of 13 per cent for the past decade.

Highlights of the financial year included work on some of the most significant corporate deals in the North-East, including the £90m acquisition of the LivingWell chain of health clubs for Darlington-based Bannatyne Fitness.

The firm also worked on a number of multi-million pound acquisitions for Newcastle-based software producer Sage and on share issues for plcs including Ultimate Leisure and Tanfield Group.

The company's public sector practice also saw significant growth. Ward Hadaway was appointed joint legal advisor to the five local authorities in the Tees Valley for the next five years and as legal advisor to County Durham and Darlington NHS Foundation Trust.

During last year, staff numbers at the firm grew to almost 400 and a third office was opened on Newcastle's Quayside to cope with the expansion.

The company says that the current financial year has started at terrific pace with increased instructions in employment, property and litigation.

Its corporate team has already been involved in one of the North-East's largest deals this year, the £115m share placing and acquisition of Snorkel by Tanfield Group.

Jamie Martin, managing partner at Ward Hadaway, said: "We enjoyed a superb year in 2006/07 and have set off at a cracking pace in this financial year.

"The hard work and dedication of everyone at the firm has brought this success and ensures that we remain focused on continuing to improve and expand."