Kent and London law firm Thackray Williams has announced record results for the financial year 2023/2024, positioning the firm for potential inclusion in the ranking of the UK’s top 200 law firms later this year.
The practice, formed in 2004 following the merger of Thackray Wood and Leigh Williams, and headquartered in Bromley, has revealed revenues of £12.2m for the financial year – a rise of 9.1% compared to the year prior.
The firm’s Private Wealth department saw the highest growth, with a 24% increase, followed by the Leasehold department with a 15% increase and both Employment and Corporate departments posting an 11% increase.
The news follows Thackray Williams launching a new strategy built around six core sectors, headed up by partners, working across a full range of legal services to businesses, associations, institutions and private individuals.
The core sectors include Private Wealth, Real Estate, Sport, Retail-Hospitality & Leisure, Financial & Professional Services and Education.
The new sector strategy aligns with the firm’s expanding its corporate/commercial division, which has witnessed an impressive 27% increase in revenue in just three years.
Simon Slater, non-executive chair, said: “Our results are a direct result of continued organic growth from ‘significant’ new client wins.
“Given typical law firm growth rates are between 6-8%, delivering 9.1% revenue growth and a net profit margin of 21%, up from 19% the year before, shows what an exceptional year our teams have delivered. Our performance is in line with expectations as we look to become a £15m firm by 2027.”
Simon, who has been involved in shaping some of the UK’s most successful professional service businesses, including Charles Russell Speechlys, Eversheds and Cripps, said Thackray Williams is focusing on accelerating year-on-year growth.
Simon added: “Whilst we are committed to our strategy of further organic growth, we will also consider alternative options, such as merger and acquisition, in order to increase our sector exposure, expand geographically and achieve our growth ambitions.
“The year ahead will again see us identify and recruit senior lateral hires to enhance our service to clients and move us forward in our chosen sectors and practice areas.”
Thackray Williams, which employs more than 130 staff, has seen revenue at its Sevenoaks branch jump to £2m since the office opened five years ago.
The firm has recently bolstered its partnership with the announcement of four new partners to sustain its rapid growth.
