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Strong performance from its legal services arm boosted a trading update from Quindell plc, which it turn began to pull the alternative business structure out of the doldrums yesterday, with its share price shooting up 30% in the day.

Minster Law, the alternative business structure owned by financial services business BGL Group, has moved into travel claims after securing another major hire from Pannone, now part of Slater & Gordon.

The boutique media law firm that transformed itself into a multi-disciplinary alternative business structure specialising in high tech and legal reputation defence, is approaching the end of its first three-year phase of reform with profits “sky high”.

The AA – which research found recently to be the UK’s most trusted brand – has launched a conveyancing service in its first move since receiving an alternative business structure (ABS) licence in late 2013.

Quindell plc is on track to nearly double the number of staff working in its legal division to 1,500 this year as part of a plan that is seeing the alternative business structure target noise-induced deafness claims as a major growth area, it revealed this week.