What's Happening?
Freeths, a Nottingham-based law firm, has reported record financial results for the year ending March 31, 2025. The firm achieved a turnover increase of 14.8%, reaching £166.8 million, and an overall profit rise of 13%, totaling £59.4 million. This marks another year of impressive double-digit growth, continuing a trend of sustained success with average annual turnover growth exceeding 10% for over five consecutive years. The firm also distributed a record staff bonus pool of £4.3 million. Freeths operates in 13 UK towns and cities, including Liverpool and Manchester, and has recently relocated to larger offices in Bristol and Liverpool, while refurbishing its London office. Karl Jansen, the national managing partner, attributes these results to the dedication of the firm's staff and the trust of its clients.
Why It's Important?
The record financial results of Freeths highlight the firm's robust growth and its ability to thrive in a competitive legal market. This success underscores the firm's strategic focus on building a purpose-driven, inclusive, and sustainable business model. The investment in larger and refurbished office spaces reflects Freeths' commitment to enhancing client experiences and supporting hybrid working models. Additionally, the firm's focus on addressing pay gaps related to gender and ethnicity demonstrates its commitment to diversity and inclusion. These efforts not only strengthen the firm's reputation but also position it well for future growth and expansion.
What's Next?
Freeths is poised to launch the next phase of its strategic plan, building on the success of its previous five-year strategy. The firm aims to continue its focus on talent attraction, development, and retention, while driving change to reduce and eliminate pay gaps. The investment in state-of-the-art workspaces is expected to support these goals, enhancing both employee satisfaction and client service. As Freeths continues to expand its presence in the UK, it is likely to further solidify its position as a leading law firm, potentially exploring new markets and opportunities for growth.
