Foot Anstey has posted a revenue rise of 14 per cent for 2013/14 to £27.5m, resulting in cumulative turnover growth of 72 per cent since 2006/07.
The West Country firm has achieved positive growth for at least eight consecutive years.
After growing by over 25 per cent in the two years between 2006/07 and 2008/09, its growth slowed significantly during the recession although it never flat-lined. Since 2010/11, it has grown by 35 per cent, from £20.5m to £27.5m.
The firm’s net profit also shot up last year, from £3.4m to £4.2m, while average profit per equity partner (PEP) at the 49-partner firm went from £224,000 to £264,000. Reversing a year of negative partner profit growth in 2012/13, the bottom of equity soared from £125,000 to £240,000 while top of equity also went up, going from £255,000 to £295,000.
Managing partner John Westwell asserted that the rise in PEP was the result of years of investment and careful financial planning through the recession.
One quarter of the firm’s revenue comes from its corporate team while property generates 34 per cent of work. Litigation and personal injury work account for another 31 per cent.
Foot Anstey’s revenue growth