Lancashire law firm records ‘strong’ financial year

A Lancashire law firm with major offices in Blackpool and Preston said it has had another strong financial year after revenues rose by 18 per cent.

By Tim Gavell
Friday, 15th July 2022, 3:30 pm

Napthens said revenues hit £17.6m in its latest financial year as it saw growth across all its core service lines, including real estate and employment, with its corporate, litigation, private client and residential conveyancing teams each recording double digit increases.

Napthens’ corporate team led the way, as revenues grew by 44per cent. It follows a “memorable year” for advisory work of 50 transactions valued collectively at more than £600m, well ahead of the 32 transactions it completed in 2020 and 28 in 2019.

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Alexandra Hatchman, CEO at Napthens

Highlights from the past 12 months include Bosch Building Technologies' acquisition of Lancashire fire safety firm Protec Fire and Security Group, JD Sports Fashion's acquisition of Wheelbase Lakeland, and the acquisition of North West cleanroom provider Connect 2 Cleanrooms by US-based Angstrom.

Residential conveyancing saw a 23 per cent revenue increase amidst a boom in the residential property market over the past two years.

Napthens’ private client team – that provides personal legal advice on matters such as divorce, wills and estate planning, and probate – increased revenues by 17 per cent and the dispute management team saw a 14 per cent increase.

The financial results follow a series of milestones for the firm, as it made a flurry of senior hires, doubled the size of its Liverpool practice and partnered with the UK’s leading licensing consultancy, Licensing Matters.

Alexandra Hatchman, chief executive at Napthens, said: “In my first four months with the firm, I have seen people from every department go above and beyond to develop meaningful relationships with clients and each other. Although revenue only tells a part of the story, it certainly reflects the hard work and dedication of the Napthens team.

“I’ve no doubt we will continue to see more success in the years ahead, as we get even closer to our clients and continue to adapt the way we work to support them. We’ve seen a real desire for innovation - our clients want to engage with the law and their advisors in different ways and we’re already embracing this feedback and innovating to continue to provide the best service.”