AIIC Holdings Limited (“AIIC” or “the Group”), the legal group behind law firms Taylor Rose, FDR Law and Kingsley Wood, has reported record financial performance for the year ended 30 September 2025, in a year marked by continued investment in technology and the expansion of its consultancy platform.
The Group reported revenue of £124.0m, up 27.4% year-on-year (2024: £97.3m), and adjusted EBITDA of £12.2m, an increase of £4.8m on the prior year. Adjusted profit before tax rose to £9.6m (2024: £4.4m) – an increase of 118%.
Growth was driven by continued momentum in the Group’s consultant-led model, with the number of consultant fee earners increasing to 981 during the financial year (it has subsequently risen beyond 1,000), alongside its division of fully-employed lawyers.
Investment in next-generation IT platform
The increased profits come even though the Group significantly increased investment in its multi-year IT transformation programme.
AIIC invested more than £10.5m in IT during the financial year, around £4m more than the previous year (FY2024: £6.6m). This investment includes several millions of pounds-worth of one-off costs related to its programme to unify every part of the organisation onto a single Salesforce-based digital ecosystem, operating entirely on the cloud.
The cloud‑first system is designed to improve scalability, automation, compliance and data security, while enhancing the day‑to‑day experience for consultants and support teams. Staff can work anywhere, securely, with accurate live data across every case, department and team. It will enable more responsive service delivery and reduced admin burden; and provide a strong foundation for innovation and uptake of AI-driven tools.
The Group noted that dual‑running costs associated with legacy and new systems impacted EBITDA in the second half of the year, with the transition expected to complete by the end of FY2026.
Consultancy growth and diversification
AIIC continues to scale its legal consultancy offering, enabling experienced practitioners to operate flexibly while benefiting from centralised infrastructure, compliance oversight and technology. The Board reported that consultant recruitment remained strong throughout the year, with no indication of slowing demand for the model.
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.
Positive outlook
Looking ahead, the Board said trading in FY2026 had 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 M&A activity.
Ministry of Justice consultation
While noting ongoing uncertainty around the treatment of interest earned on client funds following a Ministry of Justice consultation that ended in March, the Board reiterated its confidence in the Group’s operating model, technology strategy and medium‑term growth prospects.
While interest earned on client funds continues to represent a component of reported EBITDA, the Group noted that its underlying profitability and cash generation have strengthened materially regardless of client interest, and despite significant ongoing investment in its IT transformation programme designed to help it prosper long into the future.
In FY2025, adjusted EBITDA excluding net client interest increased to £5.5m, reflecting improved operating performance and scale benefits from the consultant model. The Board said this progress demonstrates that the business is increasingly well positioned to deliver sustainable profitability from its growing breadth of legal and consultancy operations as investment in the new Salesforce‑based platform peaks and dual‑running costs fall away during FY2026.
Adrian Jaggard, CEO of AIIC Group, 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.”
