Legal firm Anderson Strathern has reported a big rise in profits, alongside revenue growth, in its results 2018-19.
Turnover in the year to 31 August 2019 was up by 7% from £22.8m to £24.4m, while profits jumped by 28% from £6.9m to £8.9m. Increases in the previous financial year were 6% and 10% respectively.
The firm said that top line growth was supported by increased activity across the commercial, public and private client sectors. Client wins during the year included Edinburgh Airport, Skills Development Scotland, General Teaching Council for Scotland and University of St Andrews.
Increased commercial litigation and regulatory work, a series of major land transactions, growth in employment tribunal claims, a significant increase in Brexit-related advice and a number of large deals in corporate, and commercial real estate, all contributed.
Since the year end, Glasgow practice Hardy Macphail merged with Anderson Strathern, enabling the firm to expand its SME base while doubling the size of its Glasgow office in George Square.
The firm also increased staff pension benefits, improved family friendly benefits and paid staff a discretionary bonus.
Murray McCall, Anderson Strathern’s managing partner, commented: “The firm experienced revenue growth across all departments during the year and, in an economic environment characterised by uncertainty and not without its challenges, that’s testament to the quality of our people and their ability to deliver first class and trusted advice to our client base.”
Chair Bruce Farquhar added: “Our vision for Anderson Strathern continues to be as an independent legal firm with highly rated teams who can be dynamic and innovative in their approach.”
The firm currently has 53 partners and over 230 employees across Edinburgh, Glasgow and East Lothian.