Impressive growth for Clarion as revenue rises by 24%
Clarion is celebrating another year of strong growth with the Leeds-based law firm seeing revenue increase by 24% in the last financial year (ending 31 May 2018), well ahead of the industry average which is close to 10% growth.
Clarion increased turnover from £11.7m in 2017 to £14.52m this year. It also saw profits rise by 13% since the previous year with the firm continuing to re-invest in the business, growing its team to 188 colleagues, including 24 partners. The firm’s property and corporate practices put in particularly strong performances over the last 12 months.
“It’s been another fantastic year for us with the firm successfully attracting talented lawyers and investing in developing our team as we win new mandates from large, national corporates as well as from entrepreneurial businesses across the North,” comments Roger Hutton, joint managing partner of Clarion. “We have established a law firm which resonates with these key audiences and, consequently, we are experiencing significant growth.
“There’s no doubt that we’re also benefitting from Leeds’ vibrant legal community which is a stand-out sector and a real boost to the regional economy. Increasingly, we’re seeing blue chip firms looking beyond London for a more cost-effective option and Yorkshire is an obvious choice. The healthy competition here makes everyone perform better and enables us all to draw talent and work from the capital.”
With the team continuing to grow, Clarion has announced that it will be taking another 5,000sq ft of space on the second floor of its Elizabeth House offices on Queen Street, Leeds. The strength of the firm’s work has also been recognised with a number of award nominations and wins this year, both at a regional and a national level.
Roger continues: “While it’s fantastic to see such strong financial results, our focus remains on ensuring that Clarion is a great place to work – attracting the right people and supporting their growth with us will enable us to carry on providing the outstanding service our clients expect, and, as a result, the business will continue to flourish.
“With high levels of employee engagement and loyalty continuing, I am confident that the firm will keep growing, despite the current political uncertainty – in fact, we have already beaten our targets last quarter. Our plan is to continue our successful strategy – we understand what we have to offer and why it appeals to our clients and targets. Fortunately, as an independent firm, there are still plenty of growing businesses for us to work with.”