Turnover reaches £14.2m at Ledingham Chalmers group
The Ledingham Chalmers group, including both the law firm and its subsidiary Ledingham Chalmers Financial, saw turnover of £14.2 million in 2022/23 – its highest in more than 15 years.
The law firm’s turnover was £13.4 million while group turnover was £14.2 million, up from £13.6 million in 2021/22. Pre-tax profit was slightly down on the year before: £3.5m compared with £4m.
Managing partner Jennifer Young said much of the difference in profit is due to investment in its workforce combined with factors affecting all businesses such as inflation and higher operating overheads.
Mrs Young said: “All that means we’re not wedded to the numbers we outlined in 2019 to double turnover to £25 million by 2025.
“We’re operating in a competitive post-pandemic marketplace for attracting and retaining talent – and we’re investing in a fast-growing workforce. We continue to benchmark salaries as part of our long-term sustainable growth strategy.”
The firm also allocated just under £280,000 in non-contractual bonuses in the last financial year, including through its performance-related pay scheme.