Law firm Ince’s shares to remain suspended after further results delay

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Mike Bane, chair of HICL, said the “solid operating result” reinforced his belief that the company’s shares have been oversold.
Mike Bane, chair of HICL, said the “solid operating result” reinforced his belief that the company’s shares have been oversold.

The listed law firm Ince announced this morning it has further pushed back the publication of its results for the last financial year.

Ince told markets this morning that auditors BDO have “informed the company that they require additional time to conclude their audit procedures.”

That means the publication of the firm’s annual report for the year ended last March, as well as interim half-years up to the end of September, are now not due until mid-February.

A host of top talent has left Ince in recent months, with Law.com reporting the departure of a five-strong senior team just this month.

That itself comes only a few months after Adrian Biles, who took the firm public, stepped down from the top job.

Biles himself now leads Child & Child along with his father John, who was former chair of Ince.

Shares in the law firm will remain suspended.

The firm has completed the disposal of Arden Partners this year and announced last week a plan to offload a Bristol-based personal injury practice too.

The disposals are part of a strategy “to dispose of non-core businesses and focus its insurance practice on corporate insurer clients in the defendant-side market, where six partners have joined the Group in the last year.”