Profits fall after 'year of transition' for law firm Gordons

Legal firm Gordons saw its profits fall last year after what it called a 'year of transition' for the firm.
Paul Ayre at Gordon'sPaul Ayre at Gordon's
Paul Ayre at Gordon's

Leeds-based Gordons announced net profits of £4.9m on a turnover of £15.4m for 2016-17, a decline from profits of £8.5m and turnover of £19.7m the year prior.

The firm said these figures have been followed by strong trading in the 2017-18 financial year, with the Yorkshire business understood to have been successful in securing significant new business wins and achieving increased turnover and profits.

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Average partner remuneration for the year ended March 31 was markedly lower at £182,000, compared with £283,002 the year before.

The firm’s cash position was £1.6m.

Gordons managing partner, Paul Ayre, said: “We’ve undergone a lot of change in the last couple of years. That has now unravelled and we are set to return to growth this year, as a leaner, more focused business.”

The firm has offices in Leeds and Bradford and employs 198 people slightly ahead of the figures for the previous financial year.

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