Brodies posts further growth despite pandemic

Brodies, the biggest Scottish-headquartered legal firm, has reported continued growth in the year to 30 April 2020, despite the onset of the coronavirus lockdown.

Turnover rose 7% from £76.9m in 2018-19 to £82.0m to mark a 10th consecutive increase. Profits before partner distributions were £38.5m, up around 3% from £37.4m the previous year. Cash balances also increased from £21m to over £25m.

Overall headcount during the 12 months grew to 728 from 689, an increase of 6%. With seven internal partner promotions in place for the current financial year and seven lateral hires in the last 18 months, the firm's partnership now stands at 108.

During the year Brodies launched Advocacy by Brodies, a set of solicitor advocates to represent clients in the highest courts, offering an alternative to the Scottish bar. It also implemented a new practice management system to support the firm's financial processes, continued its investment in new Edinburgh premises (to be occupied in 2021), and launch its renewed brand and website.

Managing partner Nick Scott commented: "We experienced strong demand for our services this year and we are grateful to all of our clients – businesses, organisations and individuals, in Scotland, the UK and overseas – for their continued support. We place great emphasis on the resilience of our firm because we know that at times like these clients want to turn to advisers in whom they can have absolute confidence.

"The role of lawyers as trusted outside counsel has never been more important. To support our clients we invested in people, infrastructure and services to ensure our firm's resilience in the years ahead and to underpin the planning process for our 2021-2024 strategic cycle. I continue to be inspired by our legal and business services colleagues, many of whom have been involved in driving new initiatives forward and who fulfil the role of trusted outside counsel for our clients as we all navigate a path through the pandemic."

He added: "There is, of course, much to learn from the last six months. While guiding our colleagues and our clients through the pandemic is our first priority, we must also take the lessons we have learned about how the legal sector can adapt, how we use technology and how our courts, land registers and regulatory bodies can evolve. Together we can forge a legal system able to meet the needs of clients, and society, in the digital age."