Market monitor

National Accident Helpline has today unveiled a 26% jump in profits, in the first financial results released since the personal injury marketing business listed on AIM in May.

The work to develop the Slater & Gordon brand in the UK has made it one of the three best-known law firms in the UK, with one in 10 consumers recognising its name, the firm has told shareholders.

Rising demand from FTSE 100 and Fortune 500 clients has led Riverview Law to stop offering its innovative annual contracts for small businesses, Legal Futures has learned.

Law firm network QualitySolicitors has ditched its nascent ‘Upfront Price Promise’ in favour of a ‘Clear Price Guarantee’ after its research found consumers valued transparency more than fixed fees.

The Legal Services Act has presented “a unique opportunity to create more competitive consumer offerings”, according to the company that bought national law firm Simpson Millar earlier this year.

Slater & Gordon has unveiled the next stage of its expansion, targeting the East Midlands after its latest acquisition enabled it to open an office in Derby.

Pioneering alternative business structure NewLaw has made “an encouraging start” to life under the ownership of accident management business Redde plc, the company said yesterday, with profits of £2.1m in its first four months.

Falling revenue from personal injury work is the reason for the £5.1m loss announced by Co-operative Legal Services (CLS) yesterday, managing director Matt Howells has said.

Turnover is up by two-thirds in the two years since James Caan invested in Staffordshire-based Knights, the firm has announced. The firm, which has offices in Stoke, Chester and Cheltenham, has seen turnover go from £9m to £15m.

Co-operative Legal Services (CLS) has announced an operating loss of £5.1m in the first half of 2014, a 70% increase on last year. However, there is no sign of the Co-operative Group selling it off.

Private equity business Palamon Capital Partners has brought in technology lawyer David Grossman to spearhead its plans to build the UK’s largest legal services provider.

The ‘other’ listed Australian personal injury firm – Shine Lawyers – considers itself “well placed” to take advantage of the changing UK legal market, it said yesterday.

Oracle Capital Group, a global family and wealth consultancy based in Luxembourg, is launching an ABS. The aim is to offer legal advice to its international clients, many of whom are entrepreneurs or business owners conducting transactions in or relocating to the UK.

The solicitor in charge of a network of 136 West Midlands firms has said it aims to lead the way in support for small law firms, while remaining outside any national group. Hub.Legal is operated by FBC Manby Bowdler, formerly a hub in Pannone’s Connect2Law network.

Alternative business structure Quindell plc today proclaimed itself the largest personal injury law firm in the UK and the “largest public company law firm globally” as it announced its results for the first half of 2014.