Strong second half lays foundations for growth at law firm
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North West law firm Napthens is reflecting on a solid performance over the past 12 months, having finished the year in line with the previous year’s revenue of £15m.
The firm, which has offices in Preston, Blackburn, the Fylde Coast, Cumbria, Southport and Liverpool, has seen a strong performance in the 12 months to March 31, across all service lines with its employment and HR, litigation and residential conveyancing teams seeing significant growth.
Napthens’ employment and HR team saw an 11% increase in revenue in the previous 12 months. This increase comes as the team welcomed 53 new retained clients. The majority of the department’s clients now utilise Napthens’ HR3 offering, retaining Napthens services with ongoing access to and support from experts in employment law, HR and health and safety.
The dispute management and litigation team saw a three per cent rise in revenue over last year as it continued to focus on specialisms including commercial litigation and inheritance disputes. The team also saw an increase in commercial landlord and tenant disputes arising from the pandemic.
The residential conveyancing team also performed well, with a three per cent increase in revenue on the previous year. The team received 4,800 instructions, in part as a result of the Help to Buy scheme and Stamp Duty holiday.
Another team benefiting from the property boom in the region is the real estate team, which recorded a total deals value of £210m. As landowners and developers alike look to capitalise on the appetite for new homes across the region, the plots sales unit has seen a 37% growth in transactions.
The real estate team has also been working closely with the corporate team, which itself completed deals totalling £200m, with a particular rise in support for businesses across the leisure sectors. Acquisitions in key locations such as the Ribble Valley and South Lake District have proved popular as investors look to make the most of the staycation boom.
Shru Morris, Napthens chief executive, said: “I am incredibly proud of what we have achieved this year. Like many businesses we found April to September challenging, however, it’s a testament to the hard work of our team, their commitment to clients and knowledge of their sectors and the region that we were able to come back so strong in the second half of the year.
“As a result, our ambition has only grown and we are very much planning for further growth. In the first three months of 2021 we welcomed 17 new starters to support our anticipated growth, and we will continue to invest in people to further strengthen our offering for our clients across the region.”
Chris Boyle, board member and head of employment and HR, said: “The challenges of the past 12 months have highlighted the importance of businesses having access to ongoing support as they deal with the difficulties of a post-Brexit, post-pandemic world and plan for the future.
“This is particularly true in areas such as HR, employment law and health and safety. Our employment and HR team has seen the demand for their services increase as a result, and it’s certainly a focus area for us moving forward.
“We have already made a number of senior appointments in Liverpool this year as the city region remains a key part of our growth plans and look forward to welcoming more highly skilled lawyers to our Liverpool office and across the North West to expand our service offering and strengthen our client base across the region.”