SCOTLAND’S largest law firm has reported steady growth in annual turnover and profit.

Brodies LLP announced an 2.4 per cent increase in turnover to £66.7 million in the 12 months to April 30 2017.

The law firm has offices in Edinburgh, Glasgow, Aberdeen and Brussels and counts over 600 staff, including 94 partners.

Loading article content

During the past financial year the firm continued to develop client services leading to a 2.6 per cent increase in profits before partner distributions to £31.7m. Cash balances increased by 14.4 per cent to £18.2m.

2017 marked the seventh consecutive year of revenue and profit growth for Brodies. 

Bill Drummond, Managing Partner of Brodies, said: “All in all, it has been a very busy and at times quite dramatic year for Brodies and our clients, which underscores our satisfaction in recording another year of enhanced business performance for the firm across a number of measures.”

“Along with most of our clients – British or overseas – at Brodies we were surprised by the news, on 24 June last year, that the UK had voted to leave the EU and the consequences for Brexit and the economy are now having to be further digested following the UK General Election result and the absence of any one party with a clear majority at Westminster.

“Against this backdrop the increase in income that we are reporting is a satisfactory outcome for the year, indeed a new high point for the firm. Our underlying strategy continues to be focused on further investment in relevant client services to deliver sustainable, profitable growth.

“That said, in common with our clients, we hope and expect our politicians and negotiators in the years ahead to be pragmatic and collaborative in their dealings with our EU partners to ensure that as little economic damage as possible is done and that we can continue to grow our businesses and create long-term job opportunities in Scotland.

"To us, as with many clients, it is especially important that Scotland is able to retain and welcome workers from the EU and elsewhere who make such a valuable contribution to most sectors of our economy.”