Manchester-based personal injury law firm Express Solicitors has shrugged off the sector’s woes by announcing what it claims are its 'best-ever' financial results which put it in a ‘strong financial position’ to acquire more firms and caseloads.
Express’ pre-tax profits were £2.9m for the year to 31 August 2021, slightly down from £3.3m the previous year, on turnover up from £22.6m in 2020 to £26m in 2021. Medical reporting agency Ontime Group increased turnover from £4.9m to £5.3m, pushing group turnover up by 14% from last year to £31.3m. The firm’s caseloads also grew by 36% to 19,015.
Express, which specialises in personal injury and accident claims, clinical negligence claims and serious injury cases, spent more than £8 million on marketing in the last financial year, which it said had led to ‘rapid organic growth’.
It has also promoted six new partners, among a total of 56 promotions for the year, and made 162 new appointments between September 2020 to August 2021.
The firm said the appointments were necessary as it had recently acquired two law firms as well as large amounts of personal injury cases, mainly relating to road traffic accidents.
‘Express Solicitors is in a strong financial position to make cash-up-front offers to acquire more law firms and caseloads, and has plans to do so over the next 12 months’, the firm said.
Express confirmed the acquisition of Liverpool-based McKays Solicitors, taking on 18 members of staff and transferring 1,800 ongoing client matters, last November.
Express’ managing partner James Maxey said: ‘It’s been another successful year and we’re delighted with our progress, despite claim volumes plummeting during the first lockdown.’