SCOTTISH law firm, Brodies LLP, has continued to make progress and marked its 10th consecutive year of growth with its latest set of annual accounts.
The company reported a 7% increase in turnover to £82.0m (2018/19: £76.9m).
This amounts to 20% growth in the last two years.
Profits before partner distributions were £38.5m, up from £37.4m the previous year. Cash balances also increased from £21m to over £25m.
Overall headcount in the last 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.
Commenting on the latest set of results, Nick Scott, Brodies managing partner, said: “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.
“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.”