Stephens Scown, the employee-owned and B Corp™ Certified law firm, has reported another year of robust financial performance for 2024-25, delivering double-digit growth and reinforcing its commitment to values-led, sustainable business. Profit before members’ remuneration and profit share reached £12.2m, up from £9.7m in 2023-24 – an increase of 26%, while turnover rose to £31.1m, up from £27.4m the previous year – an increase of 13%.
The firm continues to significantly invest in its long-term future and the communities it serves, acquiring freehold premises in its traditional heartlands of Devon and Cornwall, completing a significant refurbishment project in Devon, and relocating its Somerset team to a larger, permanent office. These developments reflect the firm’s strategic ambition to be the leading law firm in the South West, supported by a strong financial base and a clear focus on culture, client service, and sustainable growth.
Progress has largely been driven by the firm’s focus on its people, resulting in the firm retaining its place as one of the Sunday Times Best Places to Work for 2025. Continued enhancements to the employee ownership model resulted in the largest profit share to date for employee owners, reflecting the firm’s commitment to shared success. A comprehensive governance audit in 2024 also saw the appointment of Sam Moles and Dave Robbins as the firm’s first trustee representatives on the strategy board, ensuring the ‘voice of colleagues’ is considered when the board is evaluating and making strategic decisions.
Commenting on the results, Richard Baker, Managing Partner, said: “This year’s financial performance and robust profit growth, coupled with retaining our Sunday Times Best Places to Work for 2025 placing, puts us in strong position for the future and an attractive proposition as a leading South West employer. Our growth enables us to continue investing in our people, our clients, and the communities we’re proud to be part of, cementing our position as a heavyweight South West law firm. As a B Corp™ and an employee-owned firm, it’s important to us that commercial success goes hand in hand with positive impact – and these results allow us to deliver on that commitment.”
The firm’s core client base of SMEs, owner-managed businesses and high-net-worth individuals continues to expand, alongside national growth in specialist markets. The 2025-26 financial year has also begun positively, with performance ahead of budget at the half-year stage and the recent opening of a new office in Dorset further strengthening the firm’s regional presence.
Richard Baker continues: “Looking ahead, we remain firmly on track with our strategy for sustainable growth through continued investment in our existing communities, while bringing our unique culture and offering to new geographies in the greater South West.”