- Revenue increases by 12% YOY to reach £67.3m (2021/22: £60.08m)
- Profit up by 7.7% YOY to £17.0m (2021/22: £15.7m)
- Tenth consecutive year of revenue and profit growth recorded – 105% and 179% growth over 10 years, respectively
- Existing and emerging markets achieve up to 81% YOY growth
- 31 senior lateral hires (including three partners) join the business in financial year
- Promoted 28 colleagues across its four offices, including five new Partners, four Legal Directors, 10 Senior Associates and nine Associates
National law firm Bevan Brittan announces its financial results for 2022/23 with revenue exceeding £67m and both revenue and profit once again increasing year on year.
Income rose by 12% to £67.3m in the year ending 30 April, up from £60m in the previous 12 months. This is the tenth consecutive year of growth, during which time revenue has more than doubled, rising by 105%. Growth was achieved across a wide range of markets, most notably Higher Education (up by 81%), Central and Local government (25%) and Insurance & Financial Services (20%).
Profit was up 7.7% to £17m in 22/23 and has risen 179% during the last ten years.
The business attracted a number of significant new clients and 31 senior lateral hires, including three partners, during the financial year. It also invested in a Birmingham office relocation to equal its operations in Bristol, Leeds and London.
Bevan Brittan’s Managing Partner Duncan Weir said: “This is another strong performance that demonstrates the benefit of our investment in our existing markets and people; our new markets and people and the increasing strength and depth of our business.
“Exceeding £67m is a fantastic achievement, particularly given the challenging economic pressures we have navigated throughout the year. This result is a firmwide effort, delivered by excellent teams across the country with a shared commitment to support our clients. Our ability to attract the highest quality clients and recruits to Bevan Brittan puts us in a strong position to continue delivering growth.
“Our consistently strong financial performance, together with robust financial management, reinforces the solid position we are in to consider options beyond organic growth, including mergers and bolt-ons. We have attracted some interest but we will only conclude a merger or bolt-on if it is the right move for the business.”
During the reported 12-month period, Bevan Brittan supported clients across a range of markets. In housing, we advised on the Catalyst and Peabody merger and were appointed to the Network Homes Legal Services Framework. Social care highlights included advising on Anavo Group’s partnership with Octopus Real Estate and Anchor’s acquisition of Halcyon Care Homes Topco Limited.
Our health expertise led to appointments to both the NHS Commercial Alliance Legal Services Framework and the NHS Resolution Framework, while we also supported Barchester Healthcare. Our financial and regulatory work included securing a position on the Financial Services Compensation Scheme Legal Panel and significant work supporting NS&I. We were also reappointed to the prestigious Crown Commercial Service (CCS) Wider Public Sector Framework and supported resource management and higher education organisations including Viridor and the University of Oxford respectively.
Bevan Brittan announced in May that it had promoted 28 colleagues across its four offices, including five new Partners, four Legal Directors, 10 Senior Associates and nine Associates.
The business also donated £80,000 to charitable causes in the financial year, shared equally between each of its four office charities.
Bevan Brittan won six legal and business awards across its markets and regions during the financial year and was recognised as one of The Times’ Best Law Firms for the fifth consecutive year.
A summary of how Bevan Brittan has performed over the 2022/23 financial year.