Howes Percival profit soars 37 per cent
Leading regional law firm Howes Percival has reported a 14 per cent increase in turnover with profit up 37 per cent.
The results, for the financial year ending May 2018, follow a period of sustained, strategic investment and expansion, which has seen the firm upgrade its office space in all its locations, open new offices in Milton Keynes and Cambridge, and increase partner numbers from 29 to 42.
Howes Percival now has six offices across the UK and, as a result, turnover has increased from £15 million in 2014 to more than £20m last year.
Clients include government departments, international brands and household names such as Welcome Break, Microsoft and leading pub operator and independent brewer Marston's, while the firm maintains a strong core client base of SMEs and family-owned businesses and high net worth individuals.
Howes Percival has also made some significant acquisitions during this period. In November 2015, the firm completed the acquisition of part of Taylor Vinters' real estate team to strengthen its commercial property specialism, while it acquired specialist insolvency practice, Summers Nigh Law in June 2017.
In March 2017, the firm announced that it had expanded its Government work significantly by being selected for the Crown Commercial Services General Legal Services Panel for Central Government, in a consortium with PwC and two other law firms; Holman Fenwick Willan LLP and Sharpe Pritchard LLP.
Tessa Haskey, Howes Percival's chairman said: “Just over three years ago the management team and the partners agreed a clear strategy for growth which involved investing in new offices, services and expertise.
“The whole team got behind that plan and we are now seeing the results of the investments we have made, and we expect that growth to continue.
“As we've been investing back into the firm for the last couple of years, we haven't seen the profit come through in quite the same way until now, but we knew the strategy was working. Going forward, we will continue to invest in new services and expertise to ensure we can continue to give our clients the best possible service.
“Our current offices all have enormous growth potential and are ideally located to also attract the best talent and work from London and the North West.
“We've proved in the last couple of years that we can be a match for any firm. We've completed a number of really big deals and we're winning more and more new instructions because of our ability to work as a team across offices and the sheer strength of our talent pool.”
• PHOTOGRAPH SHOWS: Tessa Haskey