LAW firm Blackadders, which has expanded through acquisitions, has said it hopes to maintain profits in spite of the challenges posed by the Covid-19 coronavirus crisis after growing earnings by around 40 per cent in the latest financial year.
Accounts for Blackadders limited liability partnership newly filed at Companies House show the Dundee-based firm grew profits before members remuneration to £3.9 million in the year to March 31, from £2.7m in the preceding year.
Average profits per partner increased by 20%, to £133,508, from £110,243.
Turnover increased by 20% annually, to £13.9m.
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Asked whether the firm is on course to grow turnover and profits in the current year, managing partner Johnston Clark said it was too early to say as the country enters a fresh lockdown.
He added: “Turnover is slightly down as we would have expected as a result of the courts being closed earlier in the year, but costs are being aggressively managed and new business is at pre-Covid levels so I am hopeful that profits will hold up.”
Blackadders made eight jobs redundant in October after the lease on its Dundee property shop ended and the relevant business moved online. However, Mr Clark said : “We started nine trainee solicitors and we are recruiting to replace planned retirements and for trainees in 2022.”
Lynn Melville has been appointed a partner in Blackadders’ private client department. She was previously a partner at BTO Solicitors.
Writing in the accounts, Mr Clark said the firm’s diverse portfolio of service lines has been resilient.
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Blackadders has used acquisitions to help it grow its geographic presence and to widen its offering.
Mr Clark highlighted the impact of the acquisition of the Glagow operations of Morrisons Solicitors in March last year. The growth in the year to March also reflected the acquisition of Aberdeen-based Plenderleath Runcie by Blackadders in 2019.
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