Investment pays off for law firm as profits riseJul 14, 2018
The firm has reported a 37% increase in profit and revenue rising by 14%. The results, for the full financial year ending May 2018, follow a period of sustained, strategic investment and expansion which has seen the firm upgrade its office space in all its locations, open new offices in Milton Keynes and Cambridge, and increase partner numbers from 29 to 42.
Partner and board member Geraint Davies said: “I am absolutely delighted with these results. Just over three years ago the management team and the partners agreed a clear strategy for growth which involved investing in new offices, services and expertise.
“The whole team got behind that plan and we are now seeing the results of the investments we have made. We expect that growth to continue.”
- Pictured: Geraint Davies.
Howes Percival now has six offices across the country. The firm has also made some significant acquisitions including part of Taylor Vinters’ real estate team to strengthen its commercial property specialism and specialist insolvency practice Summers Nigh Law.
Last year it expanded its government work by being selected for the Crown Commercial Services General Legal Services Panel for Central Government, in a consortium with business advisers PwC and law firms Holman Fenwick Willan LLP and Sharpe Pritchard LLP.
Mr Davies said: "As we have been investing back into the firm for the last couple of years, we have nlot seen the profit come through in quite the same way until now but we knew the strategy was working.
"We have built on our existing network across the centre of England, strengthened our regional offering by investing in new offices and broadened our expertise with some eye-catching hires. Our current offices all have enormous growth potential."
"We have proved in the last couple of years that we can be a match for any firm."