Legal consolidator posts booming revenue growth

Legal consolidator Ince Group recorded a 125% jump in revenue for the three quarters of the year so far.

It provides services and consultancy to the insurance industry, among others.

The firm, formerly known as Gordon Dadds Group, snapped up five businesses last year and now operates 23 offices globally.

Revenue climbed to £45.3m compared with £20.1m for the same period last year, it reported, while organic growth was up 5.3%

Adjusted profit before tax was £4.0m, up from £1.1m in 2018’s first three quarters.

Net debt stood at £10.4m, due to costs incurred on the integration and hires, it said.

Ince Group added that it had completed the consolidation of its acquired businesses, with Ince & Co’s London operations fully merged in April this year. It also completed the integration of Ramparts, a Gibraltar-based law firm, which it has since renamed Ince Gibraltar.

It also announced it had hired nine partners across five offices, and the successful transformation of its business was now complete.

Commenting on the results, group chief executive Adrian Biles said: ”These strong results are a vindication of our strategy. They are the product of the new international platform we have developed under the Ince brand.

”We remain on track to deliver c.£100m of annualised revenue in the current financial year, even with political headwinds buffeting some key markets across the globe.

“The second half of the year traditionally provides the majority of the group’s profits and the lateral appointments we have made will largely show through next year.

”The attractions of our model and approach are being recognised amongst senior lawyers and professionals in major financial markets around the globe as can be seen from the quality of our newest hires.

“I remain confident that the business can continue to develop from here generating increasing revenue and profits.”