Rural growth is driver for law firm after expansion into Perth
A FOCUS on “core areas” such as commercial property and rural business helped law firm Gillespie Macandrew increase turnover by 8.5 per cent in its last financial year.
The Edinburgh-headquartered practice also hired more partners and opened an office in Perth, helping its fee income to reach £9.8 million. Operating profit of £2.7m matched the previous year.
Managing partner Ian Turnbull said further expansion may be on the cards.
“This has been another encouraging year for the firm during testing market conditions as we continue our strategy of reshaping our business to focus on core areas of legal expertise,” he said.
“An important step has seen us open our new office in Perth, which is enabling us to deliver our services more readily to a range of clients in Perthshire and Kinross, Angus and beyond.
“Looking ahead, we will consider other potential opportunities to develop our position in our chosen markets.”
Work relating to commercial property increased by 39 per cent in value, while its land and rural business team increased fees by 32 per cent.
The only area of business to experience a decline was residential property, where the ongoing restriction on mortgage lending kept transaction levels low.
Turnbull said the results were “a reasonable achievement” as the firm changed its focus. He said Gillespie Macandrew would continue to focus on its “chosen markets” and develop expertise which would enhance its offering to clients.
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