The Law Society Gazette..
o-op Legal Services, the largest provider of wills, estate planning and probate services, has announced revenue growth of 41% to £31m for the first half of 2023. Underlying profit increased by 125% to £9m, up from £4m in the first six months of last year.
Co-op said it took on 22% more probate cases than in the same period of 2022 and the Estate Planning arm of the business recorded a 30% increase in revenue.
In expanding its ‘digital customer-facing service range’, which included the launch of electronic ID checking for clients and robotic process automation technology to improve efficiency, digital referrals increased by 51%.
Co-op Legal Services recruited 144 new staff during the first six months of this year and expects to hire a similar number in the second half.
The business was one of the first alternative business structures authorised by the SRA more than a decade ago. It was once hailed as the figurehead of the so-called ‘Tesco Law’ era following liberalisation of the sector, but endured several turbulent years before reining back its ambitions.
Caoilionn Hurley, managing director, Co-op Legal Services said: ‘The first six months of 2023 have been an incredibly strong period for Co-op Legal Services. Despite challenging external factors, our business has continued to show significant growth, which is apparent in the increase in both revenue and profits.
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