East Midlands law firm posts 19% turnover increase
Law firm Howes Percival has reported a 19% rise in turnover for the year 2023 according to their latest annual report.
Their turnover has surged by 33% over the past three years, rising from £23.6m in 2020 to £31.3m this year.
Increases are shown in practice areas including corporate, commercial and banking with a turnover increase of 74%, employment law by 23%, property by 25%, litigation by 31% and private client by 15%.
To meet these demands the firm has added 50 new roles in the last two years, including partners, solicitors, accounts, IT, HR and fee earners across all business sections.
Howes Percival chairperson and East Midlands partner, Geraint Davies said: “We are thrilled with this result given the unprecedented economic times we are in. Everyone has worked incredibly hard so it is great to see the results reflect this. We are continuing to take market share in all our locations and there is real momentum behind the firm at the moment. We will be investing further through 2024/25, in our people and in the business itself, to meet the client demand we are seeing and deliver further growth.
“Our strategy has been to invest in our teams and the business as a whole for several years now, and without doubt, we are seeing the results of that plan. Our people are central to everything we do. We want to be a firm that attracts the best talent and is seen as the place to nurture and develop your career from trainees through to partners and at every level for our non-fee earner teams. We have that infrastructure in place now and it is one of the key reasons we are performing so well as a business.”