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A law firm has increased turnover by 15% after investing in technology and efficiencies.
asb law, which has offices in Maidstone and Gatwick, boosted revenues for the year to the end of April to just under £11 million.
Its turnover had flatlined at £9.6 million a year earlier and pre-tax profits slid 14% to just over £2 million as it spent money on “building a robust pipeline of future revenue streams”.
Since then it has cut costs after it introduced a new legal cloud software, Peppermint, late last year.
The firm, which came fifth overall in the Kent Legal Sector Review 2017, has overhauled the way it looks after clients, according to bosses.
It has led to the firm being placed in the Financial Times Top 50 Most Innovative Law Firms in Europe 2016 and nominations in the Solicitors Journal Awards and Managing Partner Forum Awards.
Managing partner Andrew Clinton said: “We’re very pleased to have delivered such an impressive level of growth in a year of significant investment.
“Future demand is looking strong with most areas reporting healthy sales pipelines and so we’re confident that we can maintain pace through 2017 and onwards despite anticipated uncertainties in the macro environment..." - Andrew Clinton, asb law
“Having successfully transitioned to a new technology platform, we will continue to access even greater efficiencies and to work smarter for our clients.
“Future demand is looking strong with most areas reporting healthy sales pipelines and so we’re confident that we can maintain pace through 2017 and onwards despite anticipated uncertainties in the macro environment.
“The investments we have made and continue to make are reflected in the strength of our client relationships and indicate a genuine difference in how our clients and the wider market perceive us.”
Business development consultant Shaun Kelly said: “The Kent office has played its part in the great organic growth story of the past 12 months but our philosophy is to look forward and deliver incremental improvement as a law firm.
“We will therefore continue to build relationships with Kent trading SMEs, property businesses and private clients with the aim of understanding their strategic aspirations.”