Law Firms

Brodies sees profits rise to £39m

The firm reported an operating profit increase from £38.5m to £39m in the 12 months to 30 April 2021

Scottish law firm, Brodies LLP, has reported an operating profit increase from £38.5m to £39m in the 12 months to 30 April 2021.

The firm also saw revenue increase to £82.5m, up from £82m in the previous year, while cash balances grew to £30.7m from £25.4m.

The firm credited its “continued progress” on the resilience of its clients and market leading instructions across its key practice areas of banking and finance, corporate and commercial, litigation, personal and family and real estate.

The firm added nine new partners with five lateral hires, and four colleagues promoted to the role of partner, bringing the partnership, as at 1 May 2021, to 113. Total headcount also grew in the year from 733 to 748. 

In recognition of their contributions, colleagues reportedly received a firmwide bonus. 

Brodies managing partner, Nick Scott, said: ” We did not cut salaries or roles, which allowed us to maintain the quality legal services and support for which our clients know us. 

“As a result, we begin the new financial year confident in the judgments made about our firm’s priorities in the 2020/21 year and humbled by the contributions of our colleagues and the trust our clients placed in our firm.”

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