Anthony Collins Solicitors increased its profits by 15% during its latest financial year despite turnover remaining static.
The Birmingham-based firm, which has a Manchester office, has posted profits of £5.38m for the 12 months to April 30, 2021 while its turnover remained the same at £22.3m.
To mark its performance, the firm also announced that 240 staff will receive a 5% of salary profit share bonus while it is also set to accelerate recruitment across its offices.
The firm has already appointed seven new partners, with Suzanne Gregson recently joining from Brabners LLP to help grow the firm’s practice in Manchester.
As part of its expansion plans, the firm is also aiming to build its private legal services team, which experienced a 24% growth in client work over the past year.
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Senior partner Peter Hubbard said: “It has been a landmark year for the firm. We want to build on this, moving forward with our colleagues and client partners to continue delivering a positive social impact across the UK.
“In recognition of the extraordinary commitment of everybody working at ACS during the pandemic, I am delighted we are awarding a 5% of salary profit share bonus to all staff so we all share in the firm’s success.
“We have worked in challenging circumstances during lockdown and have fundamentally changed the way in which we do business. ACS colleagues have been extremely flexible in their approaches to work and we want to recognise and reward them for this.
“Our focus is on growing the firm’s national presence. This involves recruiting more talented people who share our values. We also want to empower staff.
“This is one of the reasons why we have recently created a legal director position, which is providing increased flexibility to career paths at ACS.”