Gillespie Macandrew upbeat as turnover up 2%

Law firm Gillespie Macandrew increased its turnover on the back of growth in its commercial property business, although profits remained flat in the year to the end of February.

The number of partners at the firm increased overall by two to 20, while profits per partner dipped to £138,000 from £142,000 last year.

Releasing headline numbers ahead of filing full accounts with Companies House, the Edinburgh-based practice said profit in the year to 28 February was £2.7 million, while turnover rose by about 2 per cent to £9m.

Ian Turnbull, managing partner, said: “The solid results achieved confirm that our strategy of focusing on our core areas has been the correct one.

“We have achieved increased turnover in several areas, including our core land and rural business, investment and dispute resolution divisions, and of note is an 8 per cent increase in our commercial property division, a reflection of our ongoing growth in commercial energy.”