Beachcroft is considering expanding its volume business, called ‘B2 from Beachcroft’, into property and employment work.
Limited company B2 from Beachcroft was launched in May after the firm acquired the volume insurance business of Welsh firm Kingslegal in May. Nathan Butcher, who previously headed Beachcroft’s marketing and development group, is leading the venture.
Senior partner Simon Hodson said Beachcroft was looking for new ways to respond to pricing pressures being forced upon it by clients.
Hodson commented: “We need to look further ahead and at how alternative business structures like B2 from Beachcroft can work. Can the commoditised structure be applied to property and employment work? We’re looking at ways of working it into new disciplines.”
The firm unveiled a 6 per cent rise in turnover to £121m from £114m at the 2008-09 year-end.
“Internally we’re disappointed – we should have done better,” said Hodson.
However, he added that, in the wider context of the present legal market, the firm had “done well” to increase turnover.
Managing partner Paul Murray said a pressure on rates in the volume arena, which includes pre-litigation and bulk employment tribunal work, had meant revenues were being squeezed tighter than ever before.
Beachcroft has spent much of the past year attempting to broaden its client base. Prior to acquiring Kingslegal’s volume business the firm opened an office in Dublin.