Law At Work reports record results

Magnus Swanson

LAW’s accounts for the year to 31 May 2018 show revenues rose to £3.36m, a 35 per cent year-on-year increase, enabling the firm to post EBITDA profits of £727,000, a record YoY rise of 96 per cent.

A noticeable hike in employment law revenue due to the rising number of employment tribunal cases, as well as increases in GDPR and health & safety compliance work, have helped contribute to the strong performance. The growth also stems from securing several new high-profile clients, including Borders Biscuits and TAQA Global.

In April 2018, LAW completed the acquisition of Empire HR Group Ltd, a complementary business based in Aberdeen, with a strong client base across the North of Scotland.

As a result, LAW’s financial results to 31 May 2018 incorporate seven weeks of contribution from the Empire business. The full year results are after accounting for professional fees and integration costs associated with the substantial acquisition.

Magnus Swanson, chairman of Law At Work, said: “We are naturally delighted to have achieved both record revenues and a significant jump in business profits. It is testament to the hard work of our employees and the investment we have made. We are well-positioned for the year ahead as the combination of Law At Work and Empire HR provides market-leading resources and services for our clients.

“I’m pleased to say that the 2018/19 financial year has got off to a strong start, as we continue to integrate Empire HR with LAW. In the year ahead, the full potential of the combined business will be realised. Since the acquisition, not only have we welcomed new clients, we have also extended the contracts of many of our long-term clients. I expect the group to achieve a £5m turnover figure in the current financial year.”