Double digit growth again at Brodies

Another year of double digit growth has been reported by Brodies LLP, Scotland's largest home-based legal firm, in its results for the year to 30 April 2016.

Revenues grew by 12.4% to £65.1m, while profit before partner distributions was up 14.2% to £30.9m and cash balances rose 7.3% to £15.9m. Similar to the previous year's growth figures of 11.2% and 14.2% respectively, the firm says the results were achieved through "sustained investment across Brodies’ offices in Edinburgh, Glasgow and Aberdeen". 

In the second year of the firm's 2014-17 strategic plan, the total number of lawyers and staff grew from 603 to 631, including 303 lawyers and other professional advisers (up from 290) and 91 partners (up from 82).

During the year Brodies moved into new Glasgow offices at 110 Queen Street, and extended its involvement in the PRIME programme, an initiative by leading UK law firms to widen access to the legal profession to young people from all backgrounds. It also marked a decade of support for the Scottish Schools Swimming Association and Maggie’s Centres, which provide support for cancer patients and their families.

Managing partner Bill Drummond commented: “The partners are satisfied with the progress we have made over the past year and are grateful to our clients for their continued support and for putting their faith in us to advise them on a wide range of business, regulatory and personal matters.

“Our focus on adapting to the ever-changing needs of our clients and ensuring that our services are relevant to our market, means that we are accustomed to responding rapidly when clients need us. This has never been more important than in the current climate, following the EU referendum on 23 June.

“It is clear that we have entered a period of uncertainty; however we stand ready to support organisations and individuals, whether in Scotland, the rest of the UK or overseas, in facing the challenges that the Brexit vote will present as well as the opportunities that will undoubtedly emerge."

Brodies has formed a Brexit advisory group to help clients with issues that have emerged and are likely to emerge in the coming months.