Liverpool law firm Bond Turner saw revenues and profits fall in 2024 but said the settling of a major claim in 2023 had resulted in unusually high revenues and insists its underlying business is continuing to grow. Tony McDonough reports

Liverpool law firm Bond Turner grew headcount by almost 10% to 758 people in 2024 despite seeing a big fall in both revenues and pre-tax profits.

However the business, which is based at The Plaza in St Paul’s Square, said the settling of a major emissions claim in 2023 had distorted the figures for that year pushing up both revenues and profits to unusual levels.

In its annual report, just posted on Companies House, Bond Turner pointed to favourable comparisons with results in a more typical year in 2022 and insisted the firm was on an upward growth trajectory.

For the 12 months to December 31, 2024, Bond Turner revealed revenues of £58.8m, down from £74.8m in 2023 but better than 2022 when it reported a total of £56.4m

Pre-tax profits for 2024 were £6m compared to £26.5m in 2023. In 2022 pre-tax profits were £17.2m. Bond Turner said “well publicised” problems with the civil court system had also impacted on profitability in the latest results.

Writing in the annual report director Samantha Moss said the firm was in a “strong financial position”. She added: “The business continues to increase its footprint within the field of professional and clinical negligence and in addition continues to grow its large and catastrophic personal injury case book.”

READ MORE: Weightmans annual revenues hit record £145m

READ MORE: River Capital expands to open new regional office

On the latest results she said: “It should be noted that the results for 2023 include the contribution from the agreement reached with Volkswagen in relation to the emissions claim.

“The agreement resulted in revenues in 2023 outside the normal course of historic business which should be taken into account when comparing 2023 and 2024. The underlying business on a normalised basis grew in 2024 compared to 2023.

“This improvement is even more pleasing as the business continues to face disruption as the court systems evolve post-COVID with the business continuing to see delays and the adjournments to court dates and hearings which have impacted turnover and hence profitability.”

Bond Turner was founded in 2006. It has a no-win, no-fee model and is focused on areas such as personal injury, clinical negligence, housing disrepair, professional negligence and complex legal claims.

Its owner is the Anexo Group, also based in Liverpool. Anexo is a credit hire and legal services group focused on providing replacement vehicles to consumers who have been involved in non-fault accidents. In 2023 Bond Turner paid Anexo £10m in dividends. No dividend was recommended for 2024.