Brachers increases revenues and pre-tax profits in ‘extremely tough’ economic conditions
First featured in Insider Magazine and Kent Business, February 2015. Brachers watched revenues and pre-tax profits grow last year following an expansion into a new office and some high profile deals.
Turnover grew to just over £12 million, up from £11.4 million the year before, according to the Maidstone-based company’s latest accounts. The figures for the year to April 30, 2014, showed operating profits were up 6.3% to £2.5 million, up from £2.3 million a year earlier. Meanwhile, pre-tax profits were up to £2.4 million from £2.1 million.
Brachers moved into a 1,030 sq ft office in Discovery Park, Sandwich, in November 2013 in a bid to extend its reach into east Kent. The firm appears to be on course for another good performance next time it reports its figures. It advised on the £45 million redevelopment of Benenden Hospital and the management buyouts of Birchington-based Kent Crisps in August and Dover-based Burgess Marine last month.
Managing partner Joanna Worby said: “The economic conditions have been extremely tough for law firms over the last few years, but we have managed to continue to improve our turnover and we are particularly pleased with these results which mark a record year for the firm.
“Growth was shown in nearly all practice areas – which is testament to the hard work put in across the whole firm. We have always prided ourselves on our historic commitment to the region, but we invested significantly during this period in expanding our presence across the county even further.
“Headcount was increased, we opened a new office at Discovery Park and refitted our head office all during this financial year which also saw the firm’s profitability rise.
“We are on target to achieve further growth over this financial year as we look to build on particularly strong performances from the corporate, commercial, debt recovery and property teams.”