Stone King to expand as turnover rises

Originally published by Insider Media, quoted below:

Turnover has grown at historic law firm Stone King thanks to further investment to support its target of becoming a national practice.

Growth is expected to continue going forward, with a new office set to open in Birmingham later this year.

Stone King, which was founded in 1785, most recently opened an office in Leeds in May 2016, adding to its established bases in Bath, London and Cambridge.

According to the firm's latest set of accounts, turnover rose to £15.8m in the year ending 30 April 2017, up from £14.8m in 2015/16.

Profit for the financial year available for division among members remained steady at £4.1m.

The firm said its education division continued to be one of the key growth areas for the business and will lead the new Birmingham office, expected to open later this year.

Steven Greenwood, managing partner at Stone King, said: "We are pleased to report an increase in our turnover during the last financial year, with a corresponding increase in profitability. During the year we continued to strengthen our teams in Bath, London, Leeds and Cambridge.

"Our Leeds office has had a successful first full year and we have recruited more specialists to drive the development of particularly our education sector there, giving us a truly national focus.

"We will also be opening another office in a new location later this year, continuing our expansion drive so that we can be available to our clients across the country."

On 1 May 2017 the number of members totalled 23, together with nine salaried partners.

A further 16 staff were promoted at the start of the current financial year, including new partners Ciara Campfield, Laura Berman, Joanne Burton, Tony Pidgeon and Philip Askew. Four senior associates, four associates, two principal HR consultants and a senior HR consultant were also promoted.

Greenwood added: "Looking at the year ahead, as one of the top ranked practices for the charity and education sectors in the UK, we expect a continuing high volume of work in these areas.

"We also anticipate a significant increase in turnover for this financial year, primarily due to our continuing geographical expansion and focus on these core sectors. We will also drive forward our private client work, particularly on the international front, and continue to develop our business sector from all our offices."


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