Blackadders profits jump 46% as group hits £20m turnover milestone

Blackadders profits jump 46% as group hits £20m turnover milestone

Pictured (L-R): Head of private client Laura McDowall, head of business services group Kirk Dailly, and joint managing partners Emma Gray and Ryan McKay (credit: Andrew Cawley)

Blackadders LLP has reported a period of strong financial performance, with combined turnover of the law firm and Blackadders Wealth Management LLP hitting a milestone £20.2 million, a 19% increase from the previous year.

This growth was significantly outpaced by a 46% surge in group profits, which rose to £6.76m following a strategic focus on investment, restructuring, and innovation.

The sustained growth across Blackadders’ core services, particularly private client, coupled with increases in the business services group activity and the rollout of the firm’s client charter and service pledge have all improved overall performance.

Ryan McKay, joint managing partner, said: “This has been an excellent performance and comes after a period of significant investment and strategic change. This is Blackadders doubling down on a strategy of ensuring clients are served well in the most efficient way possible and with the best advice.

“Every team has contributed to these results, but the underlying strength of our Private Client team and the innovation shown by our Business Services Group have proved to be the engine from which our growth has come.

“We are nearing the end of our current five-year strategy and looking forward to setting new targets for growth and investment for the coming years. We want to achieve our ambition of being recognised alongside Scotland’s top five firms in terms of our quality of advice and service as well as attracting and retaining the most talented lawyers in the country. But our ambition does not stop there and we are already working on the next phase of Blackadders’ journey.”

Operational consistency was a feature of activity for the period following major strategic changes in previous years. The firm concentrated on consolidating workflows, strengthening financial controls and enhancing the economics of the business.

The year represented the penultimate stage of Blackadders’ ambitious 5 by 25 strategy, which set out five core objectives: achieving £25 million turnover; reaching a 35% margin; being recognised as a Destination Lawyer; becoming an Employer of Choice; and being regarded alongside the top five Scottish law firms in terms of service delivery and quality of advice.

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