Decade of continued growth marks new record for Brodies
Brodies LLP has continued to make progress for the year to 30 April 2020, reporting a 7% increase in turnover to £82.0m (2018/19: £76.9m). This amounts to 20% growth in the last two years and marks the tenth consecutive year of progress for the firm.
Profits before partner distributions were £38.5m, up from £37.4m the previous year. Cash balances also increased from £21m to over £25m.
Overall headcount in the last 12 months grew to 728 from 689, an increase of 6%. With seven internal partner promotions in place for the current financial year and seven lateral hires in the last 18 months, the firm’s partnership now stands at 108.
Brodies supported Scottish, UK and international clients in its core practice areas of banking and finance, corporate and commercial, litigation, personal and family and real estate. It also launched Advocacy by Brodies - a leading set of solicitor advocates representing clients in the UK’s highest courts, tribunals and arbitrations, offering an alternative to the Scottish Bar.
Brodies’ managing partner, Nick Scott, said: “We experienced strong demand for our services this year and we are grateful to all of our clients – businesses, organisations and individuals, in Scotland, the UK and overseas - for their continued support. We place great emphasis on the resilience of our firm because we know that at times like these clients want to turn to advisers in whom they can have absolute confidence.
“The role of lawyers as trusted outside counsel has never been more important. To support our clients we invested in people, infrastructure and services to ensure our firm’s resilience in the years ahead and to underpin the planning process for our 2021 – 2024 strategic cycle. I continue to be inspired by our legal and business services colleagues, many of whom have been involved in driving new initiatives forward and who fulfil the role of trusted outside counsel for our clients as we all navigate a path through the pandemic.
“There is, of course, much to learn from the last six months. While guiding our colleagues and our clients through the pandemic is our first priority, we must also take the lessons we have learned about how the legal sector can adapt, how we use technology and how our courts, land registers and regulatory bodies can evolve. Together we can forge a legal system able to meet the needs of clients, and society, in the digital age.”