Independent law firm Brabners delivered another year of revenue growth in its last financial year (FY18/19), generating turnover of £33.6m (FY17/18: £33.1m).
The results, for the year ending 30th April 2019, were delivered in the second year of the firm’s strategic change programme, under the leadership of chief executive Robert White and managing partner Nik White.
Profits before members’ remuneration and profit shares increased by 5% to £11.1m (FY17/18: £10.6m) in a year of significant strategic investment. Commercial and operational investments totaled £1.8m during the year and continued more recently with the firm’s acquisition of fast-growing Manchester firm, HRC Law, which completed in July.
In the last financial year Brabners continued to diversify and supplemented its fee-earning team with additional expertise and new technology. This included boosting its business development, marketing and finance teams as well as recruiting eight new partners with sector expertise covering real estate, healthcare, charity and private client. The firm also made four internal promotions to partner.
Robert White, chief executive of Brabners, said: “2018/19 was an important year for the firm and it was particularly rewarding to deliver a second year of positive profitable growth, while also implementing considerable investment within the business – investment that will sustain and build our growth momentum in the coming years.
“We have started the new financial year particularly strongly and while we are vigilant given the undoubted uncertainty in the market at present, we also remain hugely positive and well placed for whatever the future may bring.”
Nik White, managing partner at Brabners, said: “With our new sector focus in place, and by continuously investing in our people, we are creating an environment for ambitious lawyers to thrive in tandem with outstanding business leaders and sector experts. That positive change is being recognised on both a national and regional level, with us recently ranking top in the Legal 500 table of North West law firms based on the number of rankings and recommendations for our firm and lawyers.
“It is also encouraging to see our growth trend continue in Q1, a period during which we acquired and integrated the resources of HRC Law and launched the Brabners Foundation, our firm’s grant-making charity arm.
“This is a really exciting time for Brabners as we continue to reach the milestones set out in our strategic change programme as part of our ambition to become the UK’s leading independent law firm.”
Brabners has been continuously practising law since 1815. The firm has nearly 400 colleagues including 71 partners.