LAW firm Ledingham Chalmers has posted a modest increase in turnover for the year to 31 March, expecting this to continue to the end of this year and building on its record growth in the prior period.
The firm, which has offices in Aberdeen, Edinburgh, Inverness and Stirling, said group turnover grew by almost 1 per cent to reach £12.5 million, after increasing by 15 per cent in the previous year.
It said its results for the financial year mirror its “incremental and lasting growth” and it described its performance in commercial property as resilient, reflecting the amount of activity in the Aberdeen area. There were “solid” performances from every area the business covers, including private client, rural, corporate and litigation, the firm added. Chief executive Brian Hay said: “While the uncertainty within the oil and gas sector has impacted the level of activity in commercial work, and residential property in Aberdeen, performance across all areas of the business remains in line with expectations, and we anticipate a further increase in turnover at year-end.”
Jennifer Young, who succeeded David Laing as chairman in 2012, said: “These financial results are evidence of our continued, steady year-on-year growth since the firm broke the £10m mark in 2012.
“We continue to invest in the future of the business, with a strong emphasis on our people and developing our infrastructure.”
Young, one of the firm’s 31 partners, raised concerns in September last year over the legal profession’s skills shortages.