GLASGOW-based BTO Solicitors has reported a fall in profits after investing to update its IT infrastructure, writes Scott Wright.

The firm posted a profit before members’ remuneration and profit shares of nearly £5.1 million for the year ended March 31, down from £6.4m, new accounts show.

BTO chairman David Gibson said the period saw its administration costs rise to more than £5m, up from £4.4m. He said the increase was partly driven by an “increase in computer-related costs following the implementation of our new IT hardware and practice management systems both of which will provide a strong platform for future growth.”

He added: “We are expecting these costs to reduce in relative terms as we go forward.”

Mr Gibson was writing his first review since succeeding Alan Borthwick as chairman in April. His appointment came shortly after David Walker, an accountant, was installed as the firm’s first chief operating officer in January last year as part of a new executive board.

The accounts show turnover to £18.1m from £18.4m. Mr Gibson said the firm, which has around 45 partners and a further 75 solicitors, is seeking opportunities to expand, noting that Raeburn Hope, in Helensburgh, had been added to its network in July.