Wakefield-based Minster Law is considering acquisitions after tough year

YORKSHIRE-based Minster Law today revealed that it is considering acquisitions after facing tough trading conditions over the last financial year.

Friday, 8th November 2019, 5:49 am
Shirley Woolham the CEO of Minster Law in Wakefield. 22nd November 2018.

The Wakefield-based firm reported that its turnover for 2018 was £35.1m, which is below the £36.0m recorded the previous year.

The company’s CEO Shirley Woolham said the result was a “tremendous achievement in tough trading conditions, and creates a platform for a further step-change in performance as we prepare for the 2020s”.

She said: “Improving operational efficiency and scalability was a key achievement last year and is a direct result of our investment in IT automation and digital claims.

“This has been a top priority as we prepare for the post-reform world in personal injury, where margins will be thinner and most volume claims will be processed online.

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“Any business in our sector that has not borne down hard on its fixed costs faces a bleak future,” she said. “Our results are also supported by a 21 per cent reduction in administration costs, driven mainly by our consolidation into a single HQ in Wakefield.

“These results enable us to continue to press ahead with our plans to create a broader legal services business to meet the needs of insurers and brokers in the 2020s.”

She said that might include acquisitions, which make long-term strategic sense.

She added: “We are keen to talk to other market players who share our values and sense of ambition.”