Ledingham Chalmers reveals hires and financial results

Ledingham Chalmers has announced a number of senior hires along with its 2022-23 financial results, which show turnover at a new high. 

Partner Mike Morrice joined the Commercial Property team in Aberdeen in October from Burness Paull, and Gary Hunt, who has around 25 years’ HR experience in the energy sector, took up post in November as head of HR, also in Aberdeen.

Edinburgh-based Coral Bain started in the newly created role of pan-Scotland head of risk and compliance in October. Joining from Addleshaw Goddard, she has specialist experience in construction and engineering disputes as well as in professional regulatory risk, ethics, and governance.

Ledingham Chalmers’ turnover for 2022-23 was £13.4m, its highest since becoming a limited liability partnership in 2006. Group turnover, including subsidiary Ledingham Chalmers Financial, was £14.2m, up from £13.6m in 2021-22. Pre-tax profit however dipped from £4m to £3.5m.

Headcount has grown by just over 25% since April 2022, exceeding 200 for the first time. 

Managing partner Jennifer Young said that much of the difference in profit was due to investment in the workforce, combined with factors affecting all businesses such as inflation and higher operating overheads. 

She added: “All that means we’re not wedded to the numbers we outlined in 2019 to double turnover to £25m by 2025.

“We’re operating in a competitive post-pandemic marketplace for attracting and retaining talent — and we’re investing in a fast-growing workforce. We continue to benchmark salaries as part of our long-term sustainable growth strategy.”

The firm allocated just under £280,000 in non-contractual bonuses during the year, including through its performance related pay scheme.