Fletchers Solicitors retains top 100 status following sustained growth
Fletchers Solicitors has been named as one of the top 100 UK law firms for the second consecutive year, following an ongoing period of growth.
The publication of the list, which ranks firms by revenue, comes as the business announces increases in both turnover and profit – as Fletchers continues its growth across both its Southport and Manchester offices.
Figures from the end of year accounts show that, in the last financial year, turnover has increased by over 10%, taking it to £29.2m.
The earnings before interest, tax, depreciation and amortization (EBITDA) have also increased from £6 million in 2018 to £6.6 million in 2019, largely due to the continued expansion of Fletchers’ Manchester office, as well as the medical negligence side of the business maturing.
The firm continues its focus on becoming the UK’s leading law firm in the medical negligence, serious injury and motorbike accident claims sectors. To this end, Fletchers is investing further in its medical negligence “Patient Claim Line” brand, as well as reviewing opportunities in new emerging areas of law such the digitalisation of its customer engagement.
The business continues to invest heavily in its workforce, which currently stands at 450 members of staff across its Southport and Manchester offices. This investment in staff development, including increased pensions, recruitment across Fletchers’ medical negligence division and the creation of a brand-new digital disruption team, will continue to be a major part of future plans, reinforcing Fletchers’ core values.
Gary Carrington, chief financial officer at Fletchers Solicitors, said: “The whole team at Fletchers has worked incredibly hard to keep us in the esteemed top 100 UK law firms list, given the merger activity in the UK legal market. We have a growth agenda over the next five years which will yield not only topline growth but, more importantly, sustainable profitability and cash generation.
“We are investing in the development of our team members so they continue to flourish and deliver a first-class service to our customers, and this has led to our continued growth.
“We are delighted to have seen our profitability increase, and we’re especially pleased that this has been able to happen without compromising our values in any way.
“The legal sector is rapidly changing but, thanks to our team members being prepared for this, we are confident that we have another good year ahead of us.”