Four successive years of turnover growth at top-100 firm Cripps have failed to deliver higher profits, the practice revealed today.
The firm’s results for the year ending 30 April 2017 show revenue of £29.2 million, up 3.5% from £28.2m the previous year.
‘This is the fourth consecutive year the firm has exceeded its previous year’s results. Since 2012/13, Cripps has seen more than 60% growth,’ the firm said.
The results have yet to be officially filed with Companies House but the firm said its profits of £6m had ‘exceeded its target by 4%’. For the year ending April 2016, operating profits stood at £7m.
A spokesperson for the firm said the dip was due to the firm moving to a new purpose build head office at the end of last year as well as upgrading its IT infrastructure.
Profit per equity partner stood at £262,800.
Cripps has offices in Tunbridge Wells, Kings Hill and London. The firm has 49 partners and an overall headcount of more than 350.