The parent company of legal brands Taylor Rose, FDR Law and Kingsley Wood has reported record profits of nearly £10 million; a 118% increase on the previous financial year.
AIIC Group’s latest results report an annual revenue increase of 27%, up to £124 million from £97.3 million and adjusted EBITDA of £12.2 million, up from £7.4 million. The figures are representative of the group’s efforts to invest in technology and drive the growth of their consultancy model of employment, according to CEO Adrian Jaggard (pictured).
The group now has over 1,000 consultant lawyers working alongside its fully employed head count, as it continues to scale its legal consultancy offering. The model enables experienced practitioners to operate flexibly while benefiting from centralised infrastructure, compliance oversight and technology.
The report notes recruitment into the consultancy model remained strong throughout the year and there is no indication any fall in demand is coming. The group has seen strong growth in consultant numbers across private client, family, litigation and immigration law, as well as its core strength of property services, widening its footprint across key legal sectors.
The EBITDA figure includes interest earned on client funds, and AIIC acknowledges the ongoing Ministry of Justice consultation on whether law firms will be able to to continue to retain interest made on client funds in the future, and says it has done much to strengthen underlying profitability and cash generation. In FY2025, adjusted EBITDA excluding net client interest increased to £5.5 million, reflecting “improved operating performance and scale benefits from the consultant model”.
The report reiterates the board’s confidence in the consultancy operating model, technology strategy and medium‑term growth prospects.
The record figures come despite what AIIC describes as an IT transformation programme “designed to help it prosper long into the future”. The group invested more than £10.5 million in IT during the financial year, around £4 million more than the previous year (FY2024: £6.6 million); including “several millions of pounds-worth of one-off costs” related to efforts to introduce a single Salesforce-based digital ecosystem.
With the transition expected to complete by the end of FY2026, the dual running costs associated with legacy and new systems which impacted EBITDA in the second half of the year are expected to fall away during this financial year.
Looking ahead, despite one of the brands being levied with a £160,000 fine by the SRA, the board says trading in FY2026 has begun positively, supported by improving market conditions and increasing enquiry levels following reductions in the Bank of England base rate. AIIC believes its IT transformation programme will put it in a much stronger position to seamlessly onboard new lawyers, or entire firms, in the event of future merger and acquisition activity.
Commenting on last year’s performance, Jaggard said: “FY2025 was a year of strong operational progress for the Group. The performance of our core business has strengthened materially, even as we deliberately reinvested significant sums into our IT transformation. We have chosen to absorb those costs now in order to build a more efficient, scalable and resilient business for the long-term, and the benefits of that approach are becoming increasingly evident.”
