09 May STRONG GROWTH FOR STEPHENS SCOWN
Devon and Cornwall law firm Stephens Scown has reported an 8 per cent rise in fee income in its latest financial results.
The firm, which has offices in Exeter, St Austell and Truro, reported fee income of £19.35m in the year to April 2017. Since 2013 turnover has grown by 50 per cent.
During the year Stephens Scown introduced its employee ownership scheme, with all eligible members of staff given an equal share in its profits.
Deal related activity grow by 107 per cent in 2016. Among the 174 transactions it worked in during the year, Stephens Scown advised Canadian firm Strongbow Exploration on its acquisition, from administration, of the South Crofty tin mining project in Cornwall. The firm also acted on Strongbow’s deal with Cornish Lithium Ltd.
The firm was also crowned UK Law Firm of the Year at the British Legal Awards 2016.
Managing partner Robert Camp said: “This has been another great year. No one knew what impact the EU referendum result would have on business performance, so it is encouraging that we have had another successful year, despite this uncertainty.
“Introducing our employee ownership scheme has been a highlight for me this year. Because of the regulation around law firms, it was very complex for us to bring in, but I’m so glad we made that effort.”
Stephens Scown employs more than 290 staff, including more than 50 partners, across its offices.