Gordons increased profitability despite competition and change

YORKSHIRE law firm Gordons came through a challenging year able to report an increase in profitability despite a slight fall in revenues.

The legal sector has been facing competitive pressures for several years, with a number of mid-market firms consolidating in order to plot a long-term future.

However Gordons, which employs 235 people in Bradford and Leeds, increased pre-tax profits by 5.7%, to £10.8m in the year to March 2015, although turnover dipped 1.8% to £22.5m.

New business wins during the financial year included retailers Iceland and Nisa.

Average partner remuneration increased by £7,300 to £303,300, although once the effect of the £240,000 increase in the amount paid to the member with the largest entitlement, which came to £1.89m, the average increase was £1,600 per partner.

Gordons managing partner, Paul Ayre, said: “Through a period of change we are continuing to successfully implement a business strategy where our focus is on ensuring work is won at acceptable margins and with long-term relationships in mind. 

“We secured a good number of new business wins over the course of the last financial year resulting in the further diversification of our client base, and we’ve maintained this momentum throughout the current year.

“At the same time, our emphasis on operational improvements across the firm continues to generate positive results.

“It’s a competitive environment, but we remain focused on being straightforward, building great relationships with clients and not being afraid to do things differently. We believe these are the foundations for long-term success.”