Winn Group is pleased to announce a positive performance across all key indicators in Financial Year 25, 12 months of continued growth and evolution across the company.
The Directors can report that revenues grew from £190m to £196m, with gross profit also rising from £54m to £59m, resulting in EBITDA, before exceptionals, moving above the £40m mark for the first time to £40.6m, a rise from the £37.4m posted in Financial Year 24.
A 32% increase in legal fees, thanks to the significant increase in Non-PI legal fees (46%) and PI Fixed Recoverable Costs (38%), was aided by a growth in MOJ Portal revenue by 19%:
· Revenue and profit maintain upwards trajectory
· Medium term strategy sees expansion of portfolio: intervention and FNOL services as well an online Wills offering
· Hire instructions increase by nearly 10%
· PI and non-PI cases grow by nearly 3%
Chris Birkett, Winn Group CEO, said: “Our protocol arrangements with insurer partners are a key differentiator for the Group, and for claims where we don’t have protocols, we chose the right ones to litigate and delivered a 96% success rate when we did go to court.
“Our success rate underlines the value of protocols, which bring transparency to claims management for all sides.
“We are one of the very few claims firms to own a solicitors and our results demonstrate the value of having that skill set in house; the fee income made a valuable difference to our result.”
Commenting on the performance, Chris said volume growth came from a number of new business wins as well as organic growth from existing accounts.
This was offset by a near 10% fall in average hire periods, as the market returned to normal in parts supply and labour, both of which were badly hit by the pandemic.
Chris said the Group remained fully committed to investing in technology to enhance the customer journey and drive efficiencies.
He continued: “We’ve spent a six-figure sum on Agentic AI (AI case handlers) to manage data input and administration, such as interacting with the courts and the DCP.
“We have also developed an open banking app to support impecunious clients, who need to provide data to explain their financial position when making a claim. This can be a laborious and stressful process, but our new app makes the process much easier.”
Looking ahead, Chris referred to the motor claims market continuing to adapt to the post reform, post covid world. In response, the Group is intending to boost future growth by developing a wider portfolio of products and services, including growth in sister firm Winn Solicitors Scotland, where the offices in Edinburgh and Glasgow are now 36-strong.
He added: “We are discussing with a number of insurers the opportunity to offer intervention and fault services as a natural extension to our 24/7 FNOL proposition, as well as creating a wills and probate offering specifically aimed at brokers.
“It’s part of our medium-term strategy to broaden our offering across the industry with a wider portfolio of products, alongside our core motor claims proposition.
“This is the first set of results without our founder, Jeff Winn, at the helm. Jeff has been an outstanding leader of the Group and a driving force behind our success.
“As the major shareholder and board member, he will continue to be involved in an advisory capacity, and his insight and strategic perspective will be essential as we move into the next phase.”
