03:41, July 28 441 0

2017-07-28 03:41:07
Bevan Brittan revenue nears £40m in fifth year of steady growth

Bevan Brittan has posted its fifth year of consecutive growth, with the firm reaching a turnover of £39.2m, a 4.5 per cent increase on £37.5m the previous year.

Net profit stood at 5.7m last year, up from £4.7m the previous financial year, while profit per equity partner (PEP) has jumped to £313,000, a 2.6 per cent increase on the previous year when the figure was £305,000.

The firm increased the number of qualified lawyers from 216 to 237, as well as making up two partners to equity last year. The total remuneration to partners last year was £8.96m, up from £8.86m.

Last year the firm, which traditionally has has strong public sector links, is seeing a growth in private sector work, contributing 23 per cent to total revenue, or £7.5m. Back in 2015 managing partner Duncan Weir hinted at a change in the firm’s leaning towards more private sector work, even changing its strapline to include “private and third sector” to put more focus on private contracts for construction contractors such as Wates Group and health care technology provider Optum.

Its public sector footprint remains the firm’s bread and butter, with links to the NHS and local authorities well known. Bevan Brittan was the firm most instructed by the NHS most instructed in 2016 when it conducted 12 cases. It also retained its place on the NHS’ clinical negligence panel at a time of reduced spending for the health service.

However, the firm announced in December last year that it would not re-tender for a spot on the Solicitors Regulation Authority (SRA) panel following the departure of former head of commercial litigation Iain Miller to Kingsley Napley.

The firm won spots on the regulator’s litigation roster in 2010 and 2013, but has confirmed it will not be seeking re-appointment.

The firm has developed also a strong housing association practice and works with more than 100 businesses.

Weir said: ” By continuing to deliver sustainable growth and profitability, our year-end results reflect what has been a confident and successful year for the firm. We have a sound financial platform to further deliver excellent client service in the year ahead.”

He continued: “Bevan Brittan is benefiting from a clear strategy to broaden our markets and range of clients, to continue to invest in our teams, new hires, technology and the opening of our Leeds office.”

In 2015, Weir announced his intention to open an office in Manchester within three years, or by 2018, to take the firm to revenue heights of £80m.

In recent years, the firm has struggled to advance on revenues of £35m. Its decision to open in Leeds and intention to open in Manchester is part of a strategy to combat static revenue. The total partner headcount in the northern city is now seven.