Scottish legal giant pays 5% staff bonuses as revenues near £140 million
“The firm recognises that the expertise of our people blended with AI tools is what many of our clients expect” – Stephen Goldie, managing partner
Scottish legal powerhouse Brodies has recorded its 16th consecutive year of growth, triggering a firmwide bonus of 5 per cent for hundreds of staff.
The firm’s latest results reveal full-year revenues of £138.8 million, up 11 per cent on the year before.
Operating profit for the year to the end of April increased to £54.8m, from just over £50m, while cash balances at year end stood at £30.1m, up from £23.7m the previous year. Profit per equity partner (PEP) was £930,000 for the year.
All the firm’s core practice areas - banking and finance, corporate and commercial, dispute resolution and risk, personal and family, and real estate - made progress throughout the year, contributing to the double-digit growth.
Edinburgh-headquartered Brodies has some 120 partners and around 950 people overall working throughout Scotland and from Leeds and London. The firm said it had continued to invest in people throughout the year, with four new lateral partner appointments. All eligible colleagues will receive a firmwide bonus of 5 per cent.
The firm also added to its UK footprint opening an office in Leeds as well as adding further capacity to its Glasgow office.
Managing partner Stephen Goldie said: “In the financial year in review, we invested in people, adding four new partners whose appointments reflect our continued focus on listening to our clients and responding with a strategy that meets their expectations of the breadth and quality of specialist legal services we deliver.
“The calibre of senior lawyers joining us this year is a strong endorsement of the firm’s commitment to attract and retain outstanding talent.
“Investing in more space in our Glasgow office and opening in Leeds underlines our commitment to Scotland and servicing our UK clients,” he added.
“Technology remains high on our agenda as we continue to introduce tools and explore the benefits of AI. The firm recognises that the expertise of our people blended with AI tools is what many of our clients expect.
“As we look ahead, our priority is to stay close to our clients to help them navigate the factors that influence their lives, businesses and organisations.”
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