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Berkeley Lifford Hall Accountancy ServicesIQ Legal Training

Co-op Legal Services reports half-year loss of £3.4 million

Revenue tops £18 million for the period

Interim results released by the Co-operative Group reveal that in the six months to the 6th July 2013 the Legal Services business, which includes family law advice, suffered a loss of £3.4 million. For the corresponding period in 2012 the business made a profit of £700,000. Profit for the whole of last year was £26,000.

Revenue for the last six months rose to £18.1m. For the corresponding period in 2012 it was £17.1m, making a 5.8% increase over the year.

The Group has stated that investment in the start-up business continue in line with its plans. It said:

"Our recent success has been driven by probate revenue outperforming expectations and the award of Legal Aid contracts in Family Law, which has provided the business with the opportunity to contact more than 1,500 Legal Aid clients since April 2013."

Overall the group made a loss of £559 million for the six month period.

The interim financial report is available here.

30/8/13