Ahead of filing annual accounts, national law firm Clarke Willmott LLP is pleased to announce another year of strong financial results.
At the end of the second year of its three-year strategy, Clarke Willmott reports that it is on track to deliver on all key strategic goals and metrics. Revenue has increased to over £68m and the firm is on track to meet its three-year ambitious growth target.
The success was underpinned by strong performances across the firm, notably in the firm’s private client, litigation and strategic property sectors. Core profit grew for the third consecutive year and Clarke Willmott’s commitment to its diversity of practice areas continues to deliver strategic benefits as some markets feel challenges whilst others are more buoyant.
Clarke Willmott CEO, Peter Swinburn, is now looking to the future. He said: “Activity really built over the course of the last financial year, to record levels in the last quarter – 17% ahead of the previous year.
“This has meant that we have carried excellent momentum into the new financial year, and we are optimistic for the future. Our people are committed to sustainable, profitable growth and we are attracting new clients and new people in greater numbers than ever.”
Reflecting on feedback from staff and clients, Swinburn added: “Whilst we are delivering on our financial and growth goals, as CEO, it was especially pleasing for me that during the year, our clients continued to rate our service highly. Over eight in 10 clients rate us as ‘excellent’ and recognise the quality of relationships as a specific strength. Our strong, inclusive culture underpins continued positive feedback from our people, over 90% of whom state that they are proud to work for the firm.”
Clarke Willmott, which has seven regional offices across the country, prides itself on maintaining high financial standards and reports that it is entirely committed to maintaining and building upon its financial strength sustainably.
The firm has maintained a debt-free cash position of over £8m at the financial year end. Lock-up was the best in the firm’s history, surpassing its strategic goal a year earlier than planned. Peter Swinburn reflected on this, saying: “Compared to many of our mid-size competitors, we have an enviable financial position that increases our strategic flexibility to support both investment and growth.”
Having met 2030 net zero targets for Scopes 1 and 2 carbon reduction ahead of schedule, the firm is pushing harder and faster. To date, Scope 1 and 2 emissions have reduced by 91% from the firm’s baseline year of 2021/22. The firm has rolled out Carbon Literacy training to staff and to a client, equipping participants with the knowledge, confidence and practical actions needed to support the behavioural change required to address climate change. The firm has also achieved Bronze Carbon Literate Organisation status, reflecting an ongoing commitment to tackling climate change.
Supporting a more inclusive and accessible legal profession has always been important to the firm, which has led to the launch of ‘Clarke Willmott Catalyst’. Catalyst brings together a range of activities into one central space from outreach and mentoring to skills development and career support. The name, Catalyst, came from the talented students the firm worked with as part of the University of Birmingham Impact Challenge.
Looking to the future, Swinburn adds: “Our financial strength and strong leadership creates opportunities for strategic growth via both lateral hires and acquisition. Despite the challenging environment we are purposeful in relation to our strategy and have entered the new financial year with performance stronger than ever. We look forward to further developing our firm for the benefit of our clients and our people.”
