Profits hike for law firm in ‘landmark’ year
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Birmingham- and Manchester-based Anthony Collins Solicitors (ACS) has posted a rise in profits for the year to April 30 as it hailed “solid” results.
Revenues over the period came in at £22.3m, with profits of £5.38m – up 15% on the previous year.
The firm also announced that its 240 staff will receive a 5% of salary profit share bonus.
During the past year, ACS also helped raise £1.4bn from funding projects to build 7,000 affordable homes and recovered £28m compensation for clinical negligence cases. This is as well as registering 63 new charities and enabling 384 vulnerable children to find better living arrangements.
ACS is planning to build on its results by accelerating recruitment across its offices. The firm has already appointed seven new partners, with Suzanne Gregson recently joining from Brabners to help grow the firm’s practice in Manchester. Further lateral hires are already moving ahead, says the ACS.
As part of its expansion plans, the firm is also aiming to build its private legal services team, which experienced a 24% growth in client work over the past year.
Peter Hubbard, senior partner, said: “It has been a landmark year for the firm. We want to build on this, moving forward with our colleagues and client partners to continue delivering a positive social impact across the UK.
“In recognition of the extraordinary commitment of everybody working at ACS during the pandemic, I am delighted we are awarding a 5% of salary profit share bonus to all staff so we all share in the firm’s success. We have worked in challenging circumstances during lockdown and have fundamentally changed the way in which we do business. ACS colleagues have been extremely flexible in their approaches to work and we want to recognise and reward them for this.
“Our focus is on growing the firm’s national presence. This involves recruiting more talented people who share our values. We also want to empower staff. This is one of the reasons why we have recently created a legal director position, which is providing increased flexibility to career paths at ACS.”