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Niche insurance and litigation firm Kendall Freeman has reported a 44.3 per cent rise in profits in its first full year since the demise of DJ Freeman.
Profits per partner have risen from £185,000 to £267,000, while turnover has grown 11.2 per cent to £18.9m.
Kendall Freeman now has 20 partners, all of whom are members of the equity – less than half the size of DJ Freeman, which had a two-tier partnership of 45. The number of fee-earners has dropped from 130 to 60.
The firm is also paying all members of staff a 3 per cent bonus following the announcement of the rise in profitability.
Managing partner Laurence Harris described the firm’s figures as “a reflection of the strength of our practice areas and the immense hard work that everyone in the firm, from post room up to partnership, has put in to make the firm’s first year a success”.
Harris added: “We’ve been very pleased with our first year as Kendall Freeman and in particular with the way our clients have supported the change in business.”