Record revenues for law firm Gillespie Macandrew

Gillespie Macandrew chairman Murray Shaw. Picture: Contributed

The Edinburgh-based business said unaudited fees and other income for its most recent financial year, ending 29 February, showed year-on-year growth of more than 5 per cent to reach £10.5m.

It also noted its plans to increase its headcount, which currently numbers 19 partners and 112 other members of staff, with six of its workforce recently promoted.

Chairman Murray Shaw said: “We are quietly, though I should say justifiably, positive about our performance in the past year.”

He said that in the period, Gillespie Macandrew has targeted ”growing the business organically rather than by merger or acquisition and this is bearing fruit. The new partners and staff we have brought in and on during the past year have increased our capacity and we look forward to greater growth in 2016-17”.

Chief executive Chris West said the increase in turnover was achieved with “fewer resources than expected,” adding: “Our cash position remains very strong and we enter 2016-17 with no borrowing, giving us an excellent platform for the further people and systems investments we will make to even better meet our clients’ needs.”