ACCOUNTANCY firm Campbell Dallas has unveiled a £1 million investment to switch to bigger premises in Perth, while revealing a 20 per cent rise in profits in its last financial year.

The Renfrew-based accountant said its move to upgrade its presence on Tayside paves the way for it to increase its staff in Perth to about 50 in the next two years, up from the current 40.

The firm has invested the seven-figure sum to acquire and refurbish the property on Whitefriars Crescent, which it will move into next week.

Campbell Dallas revealed its expansion plans as accounts to be filed at Companies House this week show profit before members’ remuneration and profit shares increased to £3.4m in the year ended May 31, up from £2.8m the prior year.

Turnover at the firm, which employs about 200 staff, climbed to £11.9m from £11.2m, the accounts show.

The period saw the firm advise on Innis & Gunn’s acquisition of Perth’s Inveralmond Brewery and the fund-raiser by Traveltek, the fast-growing travel business, and Morris & Spottiswood’s deal to acquire Lled Construction.

It also worked on a number of “high-profile” administrations.

Mr Williams said: “2016 was a solid year for us and we are continuing to win increasing amounts of work across the business this year, with healthcare, rural and family business sectors performing particularly well.

Mr Williams added: “There has been a marked increase in demand for our tax expertise, particularly in specialist areas such as VAT, international tax and business tax.

“We also acquired an established accountancy firm in Kilmarnock at the tail end of the year, providing us with a base from which to further develop our business in the Ayrshire market.”

The firm highlighted its investment in new IT infrastructure, stating that it put it at the “forefront of technology in the accountancy market”, and a £250,000 trainee recruitment programme over the year.

Writing in the accounts, Mr Williams said the firm had acted for more than 400 clients during the period.

“The performance this year was in line with expectations as we continue to invest in the business,” he added.