Doubling the size of its Bristol office and expanding its non-legal business areas have helped national law firm Ashfords achieve 69% turnover growth over the past five years, including a double-digit increase in 2016/17.
Revenues climbed by a 12.7% to £40.6m during the year in what it called a “highly competitive” market, with “substantial growth” across all its six offices.
It said its policy of setting up non-legal operations had combined with increased investment in its people – with improved employment packages and career development opportunities – to spur growth.All employees have received a 4% bonus over the past year. 
Last November Ashfords became the first major law firm in the West of England to be awarded an Alternative Business Structure (ABS) licence – a move it said paved the way for it to introduce more non-legal business services.
The licence will also enable the firm to accept non-lawyers into its partnership and to attract external investment.
Ashford’s non-legal business areas already include its own patent and trademark agency and a health and safety compliance offering. It has also launched an innovative regulatory platform, Business Regulatory Solutions (BRS), developed in partnership with the Chartered Trading Standards Institute, and made a number of investments in external companies.
CEO Garry Mackay, pictured, said: “2016-2017 was another great year for the firm. The firm is seeing rapid growth in what is a highly competitive market. Ensuing that our focus is and remains at all times on providing our clients with top-quality service and pragmatic solutions is at the heart of our success.
“In addition we have significantly increased our internal investment on our people both in terms of rewards they receive and the training and career development they want. This is just the beginning of where we want and intend to be.” 
Ashfords, which also has offices in Exeter, Plymouth, Taunton and Tiverton, was again named as one of the sector’s best employers by Legal Week magazine.
During the year the firm also made a number of key lateral hires, including recruiting Zoe Porter as a partner and head of its family team; Jim Morris, a former RAF pilot, as head of the aviation team; Vanessa James as a partner in the firm’s award-winning employment team; Michael Hekimian as legal director in the commercial and technology team; and Andy Braithwaite as a partner and head of the firm’s commercial team in Bristol.
CFO Philip Strange added: “It is important we acknowledge that our success is to a large extent predicated around our clients continued successes and our strategy remains focussed on delivering the insightful and commercial solutions our clients deserve and expect.”
