Asb Law sees profits surge 20%

South-East firm Asb Law has continued its rapid expansion of the past 24 months, taking on small Kent-based practice Mere-dith Smith and Pratt (MSP) as well as announcing an increase in turnover of almost 20 per cent.

John Pratt, who founded MSP more than 13 years ago, has joined the corporate finance team as a partner, along with two assistants. His area of expertise focuses on corporate finance transactions, mainly in the property sector.

Turnover this year has hit £16.7m compared with £14.1m last year. Profits per partner are yet to be confirmed, but chief executive Christopher Honeyman-Brown predicts net profit to be up by about 20 per cent.

Key earners for the firm were the insolvency department, which saw the fee income rise 63 per cent, and employment, which saw a rise of 49 per cent.

The firm has also gone ahead with a management shake-up, appointing Russell Bell as senior partner of the firm, and Ursula Danagher as the new senior partner in the Croydon office.