Johnston Carmichael unveils 8% rise in turnover

Accountant Johnston Carmichael today reported a rise in turnover as it enters its 80th year of trading.

Johnston Carmichael chief executive Sandy Mason. Picture: Raymond Besant

The firm, which has 11 offices across Scotland, generated turnover of £39.6 million for the 12 months to 31 May, an increase of almost 8 per cent on the previous year’s figure of £36.8m.

Net profit, before members’ remuneration, rose to £11.08m, up from £10.75m last time.

Chief executive Sandy Manson said: “We take a long-term view of our business and we will continue to invest in all those key areas which will enable our firm to grow its capability and reputation right across Scotland.”

Johnston Carmichael, founded in 1936, employs 650 people and Manson said the firm had taken on a record number of graduates over the past year.

He added: “To meet demand and position ourselves for future growth, we hired three new advisers and expanded our wealth team to 50, which included the integration of independent financial advisory firm Brodie MacLean in Edinburgh.”