LAW firm Ledingham Chalmers has reported record annual turnover helped by a strong flow of corporate transactions and growing risk management work.

The private client practice along with rural, insurance and litigation also saw increases in the year. Turnover at the firm was up 18 per cent from £10.7 million to £11.6m in the 12 months to March 31 this year.

Jennifer Young, chairman, said: "These financial results are evidence of our continued, steady year on year growth since the firm broke the £10 million mark in 2012. It was a strong year in the commercial market, with a large number of transactions in the corporate field. Additionally there was a continuous requirement for advisory services to businesses, which includes dispute management and resolution.

"Risk management has been a common theme with clients, particularly in protecting assets including people and/or intellectual property and IT.

"Our Edinburgh office has also seen uplifts in activity in work for insurers and self-insured clients on commercial issues such as the enforcement of bonds and economic loss claims."

The firm, which has offices in Aberdeen, Inverness, Stirling and Edinburgh, declined to give a profit figure but said it was allocating £131,000 to staff for a profit-related pay scheme. Adding in the Golden Square Wealth Management subsidiary revenue was up by 15 per cent to £12.4m. Group costs were said to have risen £500,000 to £7.7m.

Ms Young said the firm expects further growth in the current trading year and added: "It is our view that corporate, litigation and private client services will continue to grow throughout 2014 and into 2015.

"In Aberdeen particularly, the commercial market is showing no signs of slowing," she added.