Profits up 20 per cent at world’s oldest law firm

Profits up 20 per cent at world’s oldest law firm

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Thomson Snell & Passmore believes flexibility is the key to success as revenues rocket and commercial services expand. We hear from its chief executive Simon Slater...

Simon Slater

Leading Tunbridge Wells law firm Thomson Snell & Passmore saw net profits rocket in the year ending June 5 following increased demand for its commercial services.

It marks the third year of growth for the world’s oldest law firm, with further gains expected in the year ahead.

Overall, the company recorded net profits for the 2015-16 year of £5.54million, an increase of 20 per cent over the previous year, while revenues climbed 12 per cent over the same period to £18.9million.

Much of the success has been attributed to accelerated growth in the firm’s commercial practice, which won 76 new clients during the past year in sectors such as food and beverage, transport, construction and engineering.

Commenting on these results, chief executive Simon Slater said: “This has been another ­exceptional and encouraging year for the firm.

“Our growth strategy as we approach our 450th anniversary in 2020 is to build on our strong heritage and financial performance by continuing to provide unrivalled service and quality across the firm.

“We are the oldest law firm in the world, but we only thrive by being flexible, adaptable and at the top
of our game.

“Our clients look to us to use our knowledge and experience to advise them on their futures and safeguard their interests from generation to ­generation,” Mr Slater added.

“We anticipate sustained growth next year as we look to develop further our commercial group, whilst of course maintaining our pre-eminence for private client advice.”