A personal injury specialist is expanding into new regions buoyed by a return to profits after two years of losses.
Manchester-headquartered HCC Solicitors reported this week that in the year to April 2023 it made a pre-tax profit of £1.2m. Turnover increased by almost 30% to £10.5m.
The results were in contrast to the two previous financial years, when the business reported losses of £260,000 and £143,000 respectively. These coincided with the government’s personal injury reforms which reduced the recoverability of legal costs for low-value road traffic accidents.
HCC now appears to have readjusted its model, reducing the value of its work in progress but also reducing the debts to creditors by 40%. The business retained more than £500,000 in cash reserves and increased its net assets by 55% to £3.2m. By the end of 2023, the number of staff had reduced from 91 to 80.
This year, HCC has begun to grow with a new south west office and lateral hires to bolster its London base.
The move into an office in Plymouth was a continuation of the model to represent people who have sustained a life-changing injury and families that have experienced a death.
The Plymouth office will be led by Hollie Muckley, who was previously an in-house lawyer at Barts Health NHS Trust and also worked for the Home Office in a complex and high-profile public inquiry.
HCC director Martin James said: ‘This strategic move to launch an office in Plymouth builds on our national presence as we continue to grow our team of serious injury lawyers across the country.’
The firm also recruited two senior associates during the summer to work in its London office. Elizabeth Hayward arrived from Clyde & Co while Heather Petrie joined from Bolt Burdon Kemp.
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