Johnston Carmichael investing in workers

ACCOUNTANCY firm Johnston Carmichael has committed itself to a year of “record” investment as the practice gears up for the nascent economic recovery.

Sandy Manson: We take a long-term view on profits. Picture: Contributed

Chief executive Sandy Manson told The Scotsman the firm would be investing in its staff across its network of 11 offices.

Manson declined to give an exact figure for the investment but said his clients were starting to look at expansion and that he wanted to support them.

His comments came as Johnston Carmichael today unveiled a 13 per cent rise in turnover for the year to 31 May to £33.4 million following its merger with Aberdeen-based firm Ritson Smith.

Pre-tax profits climbed to £10.6m from £9.9m but average profit per partner fell to £217,000 from £230,000.

Mason said: “We don’t manage our firm to maximise short-term profits, we take a much longer-term view.

“We’ve given staff healthy pay increases, we’ve had expenses from the merger and we’ve been recruiting more staff.

“This year we will invest a record amount in our business, in terms of people, infrastructure and the brand, which we are relaunching today. Across the firm we’re investing more than ever.”

Johnston Carmichael has also joined the PKF global accountancy network after the previous British constituent – also called PKF – merged with BDO.