Fletchers reveal 'strong revenues' as it works towards Top 100 ambition

Specialist medical negligence firm Fletchers Solicitors has revealed ambitious new growth plans following a £1m increase in its revenue.

The Southport-based firm, which achieved alternative business structure (ABS) status earlier this year, has reported a 9 per cent rise in revenue this year, taking it to £12m for 2014/15.

Profit before tax was announced at £1m from £3.2m in 2013/14 due to a period of re-investment as the business aims to become a Top 100 firm by 2018.

The North West firm, which handles one in ten medical negligence cases in the UK, aims to achieve a turnover in excess of £20m by 2018 when large caseload of claims reaches settlement.

The firm's chief executive, Ed Fletcher, said: 'We expect a modest growth in revenue again next year, but we are concentrated on 2018 where we hope to see our large book of medical negligence work reach settlement and our aim then is to achieve a significant increase in turnover and profitability, which would enter us into the Top 100 law firms.'

Over the past year, Fletchers has launched the Patient Claim Line and the Medical Law Network, a panel that offers other firms a way of bringing their services to market.

Other major areas of investment include an office expansion to cater for the growing number of staff needed to support the additional work arising from its new marketing approach.

Fletchers Solicitors has also invested in its workforce with the firm growing to 290 employees, including four directors and two new non-executive directors following its new ABS status.

John van der Luit-Drummond is deputy editor for Solicitors Journal
john.vanderluit@solicitorsjournal.co.uk | @JvdLD