Annual turnover at West of England law firm Thrings has climbed by 18% to £25m on strong performances by its corporate, commercial property, agriculture and company commercial teams.
The Top 100 firm, which has offices in Bath, Bristol, Swindon and London, also said investment in clients and staff and a number of significant corporate transactions had contributed to the figure for the year to April 30, 2014.
Growth had continued since, it said, with current year turnover 12% ahead of the previous 12 months. It also stressed it had achieved the growth organically and without joining in the round of takeovers and mergers that has shaped the market over the past few years.
Corporate, commercial property, agriculture and company commercial achieved “substantial” growth, Thrings said, as activity on behalf of blue-chip clients such Watson Petroleum, Intrinsic Financial Services, Greene King, Coty and the NFU returned to pre-recession levels. 
The firm said it also continued to place clients at the core of its strategy – an approach acknowledged by leading industry journal The Lawyer which last June named senior corporate partner John Davies as its Client Partner of the Year.
Thrings managing partner Simon Holdsworth, pictured, said: “These results confirm it has been a strong year for Thrings and we are seeing the impact of our investment in clients during the economic downturn.
“Our focus has remained on improving how we deliver services, and as a result, the firm is on a strong financial footing.
“Rather than pursuing a proactive merger strategy, we have enjoyed high levels of organic growth. Our lawyers are entrepreneurially-minded, and have been able to offer more commercial services to long-term clients due to the depth of understanding they have of their businesses.”
He said the fast-changing legal landscape – led by Government reforms – would continue to challenge law firms.
“The Legal Services Act has created more competition among law firms, with clients increasingly inclined to shop around for the most competitive legal costs,” he said.
The results of a recent client survey highlighted how clients wanted more choice, more flexibility and more transparency, he said, adding “and they don’t want any surprises when it comes to fees.
“In response to this, we are offering bespoke pricing options which closely reflect clients’ specific needs and represent genuine value.
“Our healthy financial figures have shown us that whether we are acting on behalf of a sole trader or a multi-national corporation, our focus remains on fostering strong, long-term relationships with clients and providing them with affordable first-class legal advice.”
