Law firm Gillespie Macandrew has unveiled a rise in annual profits, helped by a “notable” upturn at its rural business division.
The practice, which has offices in Edinburgh and Perth, also benefited from a rising workload among its private client team, which it aims to expand.
Operating profits for the year to the end of February grew about 3 per cent to £2.7 million, with the average profit for each of its 22 partners coming in at £124,000, up from £121,000 a year earlier.
Turnover rose 4 per cent to almost £9.6m, boosted by a 20 per cent surge at the firm’s land and rural business arm to a shade under £2m.
Managing partner Ian Turnbull said: “We are continuing to push ahead with our investment in good quality people at all levels and we are actively looking to recruit in several areas.
“For example, the private client team has done well, particularly on offering tax advice, and we are looking to add to its personnel, both in Edinburgh and Perth, as well as reshaping our proposition to meet client demands and a changing market.”
Turnbull said the firm’s Perth office had delivered more than £600,000 of income in its first full year of operation, and had won a range of farming and forestry clients.
He added: “We will be continuing to invest in this office and aim to recruit personnel to build the private client team there.”
Gillespie Macandrew is also poised to benefit from the continued buoyant conditions in the construction market, Turnbull said, having added three national housebuilders to its client base in the past year.