Exeter legal firm sees income soar
An award winning South West law firm has seen its income grow by 12%.
Stephens Scown LLP, which is based in Exeter, has increased its income to £13.5 million – a growth of 12% – in the year ended 30 April 2014. This growth doubles the rise of 6% seen in the previous financial year and will enable the firm to pay out, on average, a firm-wide bonus in excess of 3% to all eligible employees.
Since 2011, the firm’s turnover has grown by 29%, representing strong organic, self-funded growth in Devon and Cornwall.
The firm has made several strategic hires in the last year, to enhance its focus on client service. Three new partners, two associates and 11 solicitors have been recruited to strengthen the firm’s agriculture, renewable energy, food and drink and holiday parks teams. In total, the firm’s headcount grew by 29 over the year.
The last year has also seen Stephens Scown recognised by the British Legal Awards, where the firm triumphed over competition from major London firms to win the Private Client and Family Law Team of the Year award.
Stephens Scown’s reputation for its mining and minerals expertise continues to grow. Significant work in the last financial year includes acting for Wolf Minerals, which has secured £75 million funding to reopen its world class tungsten and tin project at Hemerdon Mine near Plymouth. The project looks set to bring hundreds of new jobs to the area.
With recent reports showing that farming is outperforming other sectors in the South West, Stephens Scown’s rural services team continues to attract some of the biggest clients in the region.
The firm has increased its client base by 3% over the last financial year.
Robert Camp, Stephens Scown’s managing partner said: “While other law firms have invested outside the region, we remain firmly focussed on Devon and Cornwall. Our reputation for excellent client service and expertise in our region’s key sectors of mining and minerals, renewable energy, agriculture, tourism and food and drink continues to attract new clients and the best talent to work for us.
“I am very proud of everything the firm has achieved and the part we are playing in helping to create jobs in the South West. Moving forward, we will continue to focus on investing in the firm, growing organically in Devon and Cornwall and focussing on what we do best – providing first class service to our clients.”
Stephens Scown has over 40 partners and 250 staff across its offices in Exeter, Truro and St Austell. For more information visit www.stephens-scown.co.uk
