Napthens reports growth and increase in profits
Regional law firm Napthens is reporting strong growth with record income and profits as it reveals its latest financial results.
The law firm has seen 4 per cent growth in fee income across the business to over £14m and a 25 per cent increase in profits compared to last year.
Highlights include double-digit growth for Napthens’ Corporate, Employment and Litigation departments, which are some of the largest teams in their field in the region.
The Employment team has seen its HR3 annual retainer service perform well, now boasting more than 300 clients. The Corporate department, highly commended in the 2018 North West Insider Dealmaker Awards, advised on around £150m value of deals last year, with the Real Estate team handling around £130m of transactions.
Meanwhile, the Napthens Wealth Management arm has seen a major increase in assets under management to £100m, complementing the firm’s range of personal legal services.
Shru Morris, the firm’s CEO, explained: “We’re delighted to build on our strong growth over the last few years, and our results demonstrate that Napthens is one of the North West’s leading full service law firms.
“We have focused on organic growth, recruitment of key individuals and acting for the best clients in the region. This continues to generate impressive results across all key service areas.
“This past year saw our largest ever trainee intake, further growth in our specialist commercial contracts team and new partners including the recent promotion of Blackburn based Claire Haworth, the arrival of business recovery specialist, Grahame Love, and Tony Coates who is developing our commercial presence in Southport.”
Investment in the growth of the business has continued during the early stages of the current financial year, with the recruitment of new IT director, Gary Alman, from London firm Ashursts, and the acquisition of ATG Health & Safety Consultants Ltd, both of which were announced in May.
Shru continued: “Our strategy for growth over the year ahead is to invest in the right calibre of people across our six offices and across our personal and commercial legal services and invest in technology to continually strengthen our offering.
“Merseyside is an important part of our growth story and we are actively looking to recruit more lawyers to the team to service our growing client base in the area. Our strategy has always been to attract the best people to provide excellent advice and a trusted client service. We are committed to investing in our people’s careers and to adopting a flexible and agile approach to recruitment.
“We will continue to grow the specialisms we offer to reflect the growing complexity of clients’ requirements, and develop innovative solutions through the use of the latest technology to support our people and continually improve service.
“We feel there is no type or size of business in the North West to which we cannot offer high quality legal advice from experts in the field.”