Co-op Legal Services - whose entry into the legal services market 12 years ago was hailed as a ‘game changer’ - today announced a big jump in profits. In the year to 31 December, the wills, estate planning and probate services business announced operating profits up 163% to £21m on revenue up 48% to £68m. 

In the year, the number of new probate clients rose by 20%; the number of estate planning matters opened rose by 37% on 2022. 

’Significant progress to strengthen and grow the business’ was made through more than 10 new partnerships, including with Saga, and Barnardo’s, the announcement stated. Growth was also helped by the increased use of digital client services: 60% of clients made contact through these channels, up from 50% in 2022.   

Caoilionn Hurley, managing director of Co-op Life Services, said: '2023 has been another incredibly strong year for Co-op Legal Services and I am extremely proud of all our colleagues who have played a crucial role in helping us achieve this. 

'Despite challenging external factors, our business has continued to show significant growth, which is apparent in the increase in both revenue and profits. Our focus on growing and building new partnerships, improving the accessibility of our services, engaging and attracting more Co-op member-owners, and continuing to improve and introduce new pieces of technology have all helped us to deliver incredible year on year results, a strategy which we will continue to adopt throughout 2024.'

Co-op Legal was one of the first alternative business structures authorised by the SRA more than a decade ago. It was once hailed as the figurehead of the so-called ‘Tesco Law’ era following liberalisation of the sector, but endured several turbulent years before reining back its ambitions.


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