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Insider UK
Insider UK
Business
Peter A Walker

Brodies toasts 12th consecutive year of growth

Brodies has reported a 12th consecutive year of growth, with revenue of £98.5m, up 19.5% from £82.5m the previous year.

The law firm's results for the 12 months to 30 April 2022 also showed operating profit rising from £39m to £46.1m.

Investment in people during the year saw headcount increase from 748 to 771. Seven new partners were promoted, bringing total partner numbers at the start of May to 116.

More than 380 colleagues also moved into the firm's new Edinburgh office, Capital Square, in January, while Brodies also opened a new London office last summer and has committed to new premises in Inverness, planned to open this autumn.

With the full cost of the Capital Square project met, and colleague bonuses and other investments paid in full, cash balances at year end were £26m.

Brodies managing partner Nick Scott 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."

Scott continued: "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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