'˜Solid' results for North West law firm Brabners to fuel future plans
Commercial law firm Brabners said that 'solid' results last year despite a highly competitive market was enabling it to drive forward its aggressive talent acquisition strategy.
The firm – which has offices in Preston, Manchester and Liverpool – has reported revenues of £30.1m for the year ending April 2015, down from £30.2m in 2014.
It saw net assets on its balance sheet rise by five per cent to £12m, compared to £11.4m.
Profit after members’ remuneration and profit share was £3.6m, up from £2.9m.
Brabners said this “solid performance” and underlying financial strength had allowed it to continue to invest in talent, with the appointment of seven partners, across its corporate/commercial, property, social housing and employment teams, since the start of the new financial year.
The firm said it plans to continue to invest in its IT systems in 2016, implementing a new CRM system, as well as launching enhanced marketing activities targeting its high growth sectors.
The firm cited the strength of its corporate practice, which dominated regional M&A league tables for deal activity throughout 2015, and expertise in sectors such as social housing and logistics as being key to its stable financial performance.
Mark Brandwood, Managing Partner of Brabners LLP, said: “As the North West legal market becomes ever more competitive, we are continuing to apply a greater focus on hiring the best talent and delivering a consistently outstanding service for our client base of ambitious businesses and public sector organisations.
“These results, alongside our strategy of low borrowings and retained profits, mean we’re well equipped to continue to grow our market-leading teams.”