Ledingham Chalmers books revenue rise
Scots legal firm Ledingham Chalmers has booked higher turnover and profit, aided by strong performances from its private client, litigation, corporate and commercial property teams.
The firm, which has offices in Aberdeen, Edinburgh, Inverness and Stirling, said turnover for the year to the end of March 2019 totalled just over £11.6 million, compared with some £10.6m the year before. Profits rose from £3.2m to just under £3.5m.
Group turnover, including subsidiary Golden Square Wealth Management (GSWM), was also higher, at £12.1m compared with £11.6m last time.
Profits were slightly down, however, at £3.5m compared with £3.6m a year earlier. The firm, which has 184 staff, including 33 partners, said the dip reflected investment in the growing GSWM team over the period to support “future, sustainable growth”.
Brian Hay, chief executive, said: “We exceeded our budget, which is great news, and, as we’ve said before, our focus is very much on the long haul. Looking ahead, we’ve revised the 2019/20 budget, mainly to reflect changes following the Simpson & Marwick Aberdeen deal, which saw the team join Ledingham Chalmers in November. And, with a quarter to go, we’re on track to deliver that 5 per cent increase on last year’s revenue for the law firm.”
Chairman and partner Jennifer Young added: “We’re consistently recognised in the Chambers and Partners and Legal 500 directories based on feedback from clients and peers.”