Rise in profits of a law firm in a “historic” year

Birmingham and Manchester-based Anthony Collins Solicitors (ACS) reported higher profits for the year through April 30, hailing “solid” results.

Revenue during the period was flat at £ 22.3million, with profit of £ 5.38million, up 15% from the previous year.

The firm also announced that its 240 employees will benefit from a profit-sharing bonus of 5% of salary.

Over the past year, ACS has also helped raise £ 1.4bn through funding projects to build 7,000 affordable homes and recover £ 28m in compensation for cases of clinical negligence . In addition, this allows 63 new charities to be registered and enables 384 vulnerable children to find better living conditions.

ACS plans to capitalize on its results by accelerating recruitment in its offices. The firm has already appointed seven new partners, with Suzanne Gregson recently joined from Brabners to help develop the firm’s practice in Manchester. Other lateral hires are already underway, according to the ACS.

As part of its expansion plans, the firm also aims to strengthen its private legal services team, which has seen a 24% growth in client work over the past year.

Peter Hubbard, Senior Partner, said: “This has been a pivotal year for the firm. We want to build on that, moving forward with our colleagues and client partners to continue to make a positive social impact across the UK.

“In recognition of the extraordinary commitment of everyone working at ACS during the pandemic, I am delighted that we are awarding a profit sharing bonus of 5% of salary to all staff so that we all share in the success of the business. We worked under difficult circumstances during lockdown and fundamentally changed the way we do business. ACS colleagues have been extremely flexible in their approach to work and we want to recognize and reward them for this.

“Our goal is to increase the firm’s national presence. This involves recruiting more talents who share our values. We also want to empower staff. This is one of the reasons we recently created a Legal Director position, which offers increased flexibility in career paths at ACS.

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