The legal arm of the Co-op has continued to make hay during the first half of this year, with turnover and underlying profit both on the increase.

Co-op Legal Services reported this week that revenue had risen by 35% to £42m during the first six months of 2024. Over the same period, underlying profit has grown 56% to £14m.

The firm said that it opened 23,539 new cases during the first half of the year – representing an annual increase of 32%. The highest-growing department was estate planning, which opened 45% more cases.

CLS, which now has 820 staff, said expansion this year had come through partnerships with various organisations, from financial services businesses to charities. It has also extended its automated production processes within the probate sector and has pledged to invest further in technology to achieve further scale. The firm took on five new apprentice solicitors in February who combine work with studying for a law degree.

Caoilionn Hurley, managing director of Co-op Legal and Life Services said: 'Co-op Legal Services has enjoyed an extremely positive start to 2024, with our business remaining on a strong growth trajectory.

Increased digitalisation and accessibility, expanding and strengthening our partnerships and delivering optimal customer journeys remain at the core of our strategy, and this has been fundamental to our growth so far in 2024.'

The positive figures continue the upward trajectory for a business that was once hailed as a pioneer in the legal sector when it became one of the first three alternative business structures.

In the year to 31 December, the wills, estate planning and probate services business announced operating profits went up 163% to £21m on revenue up 48% to £68m.

 

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