Law firm Addleshaw Goddard cheers further income growth in Scotland
Total revenues for the global firm reached £321 million for the year to April 30, representing year-on-year growth of 12 per cent. Total distributable profit came in at £136m, while the total bonus provision this year will be three times larger than the prior 12 months, which itself had been a record.
North of the Border, where the firm has offices in Aberdeen, Edinburgh and Glasgow, the business enjoyed double-digit income growth for the fourth consecutive year.
The firm, which is also behind the Addleshaw Goddard Scottish Business Monitor, said it won and led from Scotland “significant” new commercial and regulatory mandates for financial services, retail and energy clients, including Boohoo, Diageo, Homeserve, NFU Mutual, Vision Express, Dana Petroleum, and BP International.
Other highlights delivered out of the firm's offices in Scotland encompassed working with fintech giant FNZ on the acquisition of its new headquarters in the centre of Edinburgh. It also helped energy giant SSE with the disposal of SSE Contracting to pan-European investment group Aurelius, and was appointed to Virgin Money's reduced core panel of legal advisers.
David Kirchin, head of Addleshaw Goddard in Scotland, said: “In each of the last four years we have delivered double-digit income growth in Scotland. Our plans see that trajectory being maintained… Over the last year, it's been great to welcome new colleagues to all of our offices in Scotland and to see the interest from clients in the support we can bring to their work. We believe there is even more that we can achieve, which gives us great confidence for the future."
The business as a whole in the period added 36 new partners across key practice areas, while UK transactional activity returned during the second half of the year, peaking at “exceptional” levels.
Commenting on the firmwide performance, Addleshaw Goddard managing partner John Joyce said: "Looking ahead, our intention is to build on the growth we have seen and the investments we have been making in order to continue delivering to clients a global business with ever more imaginative and impactful solutions."
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