Law firm braces for tougher market environment after year of growth

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Yorkshire law firm Gordons increased its turnover by 16% to £19.8m for the financial year to March 31, 2022, with net profit up 23% to £10m of pounds sterling.

However, the firm’s managing partner, Paul Ayre, said market conditions for the current financial year looked “more challenging” and Gordons needed to “continually improve” in order to maintain momentum.

In the 12 months to March 31, 2022, Gordons has seen growth across all areas of its business, primarily building on its strong customer relationships.

The company’s corporate and commercial team had a banner year, with revenues up 30%, marking five consecutive years of growth for the team.

The most notable deals advised included the sale of marketing technology platform ContentCal to US-based global software company Adobe and nursery operator Kinder Haven to Kids Planet.

During the same period, Gordons launched its service for start-ups and emerging companies led by a new partner, Amy Pierechod, and extended its strategic partnership with the network of digital and technology start-ups NorthInvest.

Gordons has also been appointed as a legal partner by funding connector Fund Her North, which aims to provide access to funding for women-led businesses in the North.

In addition, Gordons made a series of strategic appointments, including Head of Restructuring Jonathan Jackson and Head of Banking Ben Roden, and promoted six new partners. The firm has also appointed its first Chief Wellness and Inclusion Officer, attorney Catherine Woodward.

Ayre said: “Clients are facing big challenges right now, and this will impact law firms as we experience a tougher market.

“We must continually improve our service and working methods to preserve the trusting relationships that have served us so well.”

Gordons employs 170 people and has offices in Leeds and Bradford

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