National firm Freeths has announced record financial results for the year to 31 March, with profits up by 8.2% on turnover rising by more than 12% to £187.6 million.
The results mark Freeths’ fourth consecutive year of double-digit growth, with turnover up by 83% over the past five years. The increase in profits was made despite a 'significant investment' including in new technology, the firm said.
Freeths’ corporate, employment, and planning & environment practices recorded particularly strong performances, with turnover up 24%, 33% and 27% respectively. New client wins rose 9% year on year, while turnover from the firm’s top 50 clients increased by 11%.
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During the year, Freeths welcomed 187 new colleagues including 16 lateral partner hires. It awarded £4.3 million in staff bonuses. After the year end, Freeths transferred its clinical negligence and Court of Protection teams to Fletchers Group.
Investments in technology during the year included extending Microsoft 365 Copilot to all staff, strengthening a partnership with AI platform Legora and appointing a chief innovation officer and a head of legal AI.
Managing partner Karl Jansen said: 'Organisations are navigating increasingly complex commercial, regulatory and workforce challenges and need advisers who understand the wider context and can bring together the right insight, experience and expertise to deliver better solutions and outcomes. Our focus on service quality and long‑term partnerships has been instrumental in our progress, and our performance reflects the strength of our relationships and the increasing breadth of work entrusted to Freeths, with established clients turning to us for broader support, and new client instructions driven by our national capability, sector knowledge and practical, personal advice.'
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