Another record year for Cripps
Cripps has set a new record as it announces its financial results for the year ending 30 April 2017.
With 4% growth in fee income to £29.2m, this is the fourth consecutive year the firm has exceeded its previous year’s results. Since 2012/13, Cripps has seen more than 60% growth.
These strong financial figures have been achieved at a time when Cripps has also invested heavily in replacing its IT systems and in the opening of its new 40,000 square foot head office in Tunbridge Wells, Kent.
Managing partner Gavin Tyler said: “These record results are a great achievement and reflect the commitment and dedication of everyone at Cripps.
“We had set ourselves some tough goals considering the substantial investments we were making over the course of the year.”
The investment has been financed through a combination of the firm’s own cash reserves and a conservative level of bank borrowing.
The firm exceeded its net profit target by 4%, resulting in a figure of £6.0m.
Cripps is a Top 100 UK law firm with offices in Kent and London and is recognised countrywide for both its commercial and private client work.
The firm has continued to increase its profile both nationally and internationally, and – with an increasing number of clients based outside the UK – Cripps joined Marcalliance in 2015, as its England and Wales representative. This is an international alliance of law firms present in 18 countries across Europe, Africa, South East Asia and South America.