Record turnover as Napthens continues to grow

By Rob Kelly

22 Jan 2025

Stephen Faulkner

Preston headquartered law firm Napthens is continuing on its growth trajectory after once again reporting record turnover – however a ‘cyber-event’ saw its pre-tax profits fall.

The firm has released its figures for the financial year to March 31, 2024. They show a rise of 5.4 per cent in group turnover, up from £19.5m to £21.4m.

Pre-tax profits dipped from £5.1m to £4.5m. The firm says this was primarily because of a specific event which affected many law firms across the UK - the impact of an IT outage at a third-party contractor which suffered a cyber-event in December 2023.

It says this is something the firm has already addressed to mitigate against future such issues. 

The business has 25 partners and employs almost 300 staff at offices in Blackburn, Kendal, Liverpool, Lytham and Southport.

This year will see Napthens transition to a new leadership framework, with current financial director, Stephen Faulkner, moving to managing director.

Stephen, pictured, said: “The figures for the previous financial year reflect the resilience of our people in light of the unprecedented challenges the business faced during that period.

“The response of the teams and our recovery clearly demonstrates our success as one of the most innovative and fastest-growing law firms across the north west.

 “While profits have dropped slightly, we faced significant problems during the final few months of the financial year as a result of the outage, which is the only reason our profits were impacted.

“Mitigating against issues from third party suppliers continues to be a key focus for the firm, to reduce the impact from outside influences.

“Our long-term growth plan to reach £25m annual turnover by 2025 is firmly on track, and we have continued to make significant investment in our people, our infrastructure, our support systems, recruitment and strategic projects, to facilitate this.

He added: “The current financial year is on track to be one of our most successful ever with more exciting plans to deliver to continue our growth journey.

 “As a firm we are investing for the long-term and this is something we know will bear dividends; indeed, it is happening as we begin 2025.”

Lancashire Business View reported in December last year that Stephen was taking on his new role. 

READ: Stephen Faulkner appointed managing director of Preston-based north west law firm Napthens

Previously head of finance at the firm, Stephen has a strong record of leadership and technical expertise in the legal and business finance sectors, demonstrating strategic vision, a commitment to client success and driving excellence across teams.

Once appointed to his new role from 1st April 2025, he will be charged with expanding the service offerings of Napthens, fostering strategic partnerships, enhancing operational efficiency and strengthening the firm’s market position.

 

Enjoyed this? Read more from Rob Kelly

Latest news

1

New India branch campus on the horizon for Lancaster University Keir Starmer meets Indian PM and included Prof Simon Guy Lancaster University. Pic Simon Dawson

New India branch campus on the horizon for Lancaster University

09 Oct 2025

2

Best events and talented students complete finalists list for Lancashire Tourism Awards 2026 Best Events and Talented students on Lancashire Tourism Awards finalist list

Best events and talented students complete finalists list for Lancashire Tourism Awards 2026

09 Oct 2025

3

East Lancashire Learning Group named UK digital transformation leader in CIO 100 Awards Andrew Dewhurst with the award win

East Lancashire Learning Group named UK digital transformation leader in CIO 100 Awards

09 Oct 2025

4

PHX Training appoints new business leader in Blackpool Jason Davenport PHX Training

PHX Training appoints new business leader in Blackpool

09 Oct 2025

5

Velocity seals Airbus extension worth up to $54m Velocity Composites Has Announced Its Entry Into The Us Market

Velocity seals Airbus extension worth up to $54m

08 Oct 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

Help to grow management course
Help to grow - barriers to growth.png.png
LBV Hub Seminars
26 Sep 2025 - 16 Dec 2025

Help to grow management course

Preston Campus , Preston , PR1 2HE

09:00 - 15:00

Advantage: AI – A Workshop for Business Leaders – Oct 10th
Ai 10.10.png.png
LBV Hub Seminars
10 Oct 2025 - 10 Oct 2025

Advantage: AI – A Workshop for Business Leaders – Oct 10th

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

09:00 - 12:00

Unlocking major project opportunities in the North West
Lancs-cham-logo.jpg.jpg
LBV Hub Seminars
15 Oct 2025 - 15 Oct 2025

Unlocking major project opportunities in the North West

Strathmore Hotel, Morecambe, LA4 5AP

08:00 - 10:00

The New Employee Rights Landscape: Day One Compliance Essentials
EventBrite NORi - 15th Oct 2025 Webinar.png.png
LBV Hub Webinar
15 Oct 2025 - 15 Oct 2025

The New Employee Rights Landscape: Day One Compliance Essentials

Microsoft Teams, Microsoft Teams, PR253XH

13:30 - 15:00

The Business Network Central & East Lancashire
LBV Header (26).png.png
LBV Hub Networking
16 Oct 2025 - 16 Oct 2025

The Business Network Central & East Lancashire

Stanley House, Blackburn, BB2 7NP

11:30 - 14:15

October Freelancer Meet-Up
LBV Hub Networking
16 Oct 2025 - 16 Oct 2025

October Freelancer Meet-Up

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

The Autumn Re set - pour me a wine
LBV Advert_Autumn Reset 1200 x 630px.png.png
LBV Hub Networking
16 Oct 2025 - 16 Oct 2025

The Autumn Re set - pour me a wine

The Artistry House , Preston , PR1 3JJ

17:30 - 19:30

HR Essentials for pubs, bars and licensed venues
EventBrite NORi - 22nd Oct Webinar.png.png
LBV Hub Webinar
22 Oct 2025 - 22 Oct 2025

HR Essentials for pubs, bars and licensed venues

Online - Teams, Leyland, PR253XH

13:30 - 15:00

RISE - Lancashire's unique leadership programme for women
thumbnail_Emma Weston Illustration WENDY BOWERS RISE Illustrstion.jpg.jpg
LBV Hub Seminars
22 Oct 2025 - 18 Mar 2026

RISE - Lancashire's unique leadership programme for women

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:30 - 15:30

Women scaling up Blackpool Fylde and Wyre
LBV Hub Seminars
22 Oct 2025 - 09 Jan 2026

Women scaling up Blackpool Fylde and Wyre

The Small Business Academy, Blackpool, FY4 5JX

09:30 - 15:30

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV124 Online Graphic
Subscribe now

Weekly news bulletin