Setfords sees record growth in FY25

Setfords has published its FY25 results for the year ended 30 September 2025, showcasing strong organic growth propelled by lawyer recruitment and substantial investments in its platform. The firm achieved a total revenue of £67.7m, marking a 35% increase compared to the previous year, while gross profit surged to £24.6m, up by 36%. Adjusted EBITDA reached £11.0m, a remarkable 45% rise, and the margin improved to 17.5%. The number of consultant lawyers rose to 640, reflecting a continual upward trajectory from 574 the previous year, alongside an increase in total employees from 160 to 200.

The impressive performance was significantly bolstered by Setfords recruiting more lawyers than any other UK law firm for two consecutive years. During FY25, the firm welcomed 165 new lawyers to its platform, illustrating the increasing appeal of the consultant model as the legal sector adapts to changing work dynamics. The upward trend in EBITDA conversion can be attributed to ongoing investments in operational enhancements across various areas such as processes, personnel, and technology, further strengthening Setfords' operational framework to support scalable growth.

Setfords’ unique platform model encompasses centralised compliance, finance, professional indemnity insurance, and business development capabilities. In FY25, a noteworthy 26% of matter intake, amounting to £18.4m, was referred to consultant lawyers via Setfords’ internal sales and marketing efforts, demonstrating the critical role of the central platform in facilitating lawyer success. Angus McDowell, Chief Financial Officer, remarked “Our FY25 results demonstrate another year of strong, market-leading organic growth. Revenue growth was underpinned by more lawyers joining Setfords than any other UK law firm for the second consecutive year, reflecting the strength of our platform model and the value it delivers to consultant lawyers and clients. And our growth in EBITDA conversion is the result of our sustained investment into operational improvement and efficiencies through processes, people and technology.”

Co-CEOs Guy and Chris Setford expressed their commitment to enhancing the platform, stating, “As the business enters its twentieth year, we remain focused on building a platform that works for lawyers and clients alike. Our investment in our people, technology and infrastructure gives us confidence in our ability to sustain momentum at scale.” With a pioneering history in adopting the consultant model within the UK, Setfords has consistently garnered recognition for its growth and support of legal professionals. The firm was named the fastest-growing business in The Lawyer UK Top 100, featured in The Sunday Times Best Places to Work rankings, and holds a prestigious Double Gold Investors in People accreditation. Additionally, Setfords boasts over 14,000 Trustpilot reviews, with an exceptional average score of 4.9 out of 5.

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