By Ian McConnell
Business Editor
SCOTTISH law firm Brodies increased operating profits to £46.1 million in the year to April from £39m in the prior 12 months.
Brodies hailed a twelfth consecutive year of growth as it unveiled a 19.5% rise in revenues to £98.5m for the 12 months to April 30, and highlighted growth in its workforce to 771.
The firm said: “The financial year to April 2021 had seen the firm prioritise the wellbeing, roles and financial security of all colleagues at the height of the pandemic.
“That judgement saw it begin the year to April 2022 with a full complement of colleagues across all areas. Continued investment in people over the last 12 months saw headcount increase from 748 to 771, with all eligible colleagues receiving bonuses in May 2021, January 2022, and June 2022.”
Brodies noted total partner numbers rose to 116 on May 1, with seven promotions.
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Nick Scott, managing partner of Brodies, said: “Throughout the year, investments continued to be made in people, with recruitment of colleagues in legal and business services teams, the payment of bonuses, and the introduction of new reward structures more closely aligning individual performance with reward. These measures represent the single largest investment in colleagues and colleague reward the firm has, to date, made.”
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Brodies has offices in Edinburgh, Glasgow, Inverness, Aberdeen, Brussels and London.
The firm’s core business areas are arbitration; banking and financial services; employment; energy, including renewables and oil and gas; litigation; mergers and acquisitions; private equity and intellectual property; real estate; pensions and benefits; and personal and family law and tax.
Mr Scott said: "We begin the 2022/23 financial year inspired by our clients and our colleagues, aware of the challenges but excited by the opportunities ahead, and conscious of our responsibilities as a business and to the communities in which we work."
He added: "A new members' agreement was approved by our partners, containing a commitment that our firm be run as a responsible and sustainable business, and openly recognising the commitment we hold to create opportunity for all, regardless of difference."
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