29 Nov 2018
Law At Work (LAW), the employment law, HR and health & safety specialists, has achieved a record 35% increase in group turnover and a significant rise in profits in the last financial year.
LAW’s accounts for the year end to 31 May 2018 show revenues rose to £3.36m, a 35% year-on-year (YoY) increase, enabling the firm to post EBITDA profits of £727,000, a record YoY rise of 96%.
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.
LAW’s integration of Empire HR has enhanced its service capabilities across Scotland, creating the country’s leading consultancy in employment law, HR and health & safety. The firm also strengthened its reach in England where it is working with an increasing number of clients. The group’s client base now incorporates, oil and gas, retail, education, hospitality, professional services, recruitment and the third sector.
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.”
LAW now has more than 750 retained employer clients across the UK, which range in size from companies with five staff to businesses employing more than 24,000 people. The firm has 67 employees, with plans in place for further recruitment to service growing work levels.
In the past two months, the firm has successfully held a series of Mock Employment Tribunals in London, Edinburgh, Glasgow, Inverness and Aberdeen attended by over 500 people.
The year’s operational highlights
*Law At Work’s full-year results to 31 May 2018 incorporate seven weeks of Empire HR accounts.