Stephen Goldie

In the financial year to 30 April 2024, the firm saw revenue grow by just over 7.5%, from £106.25m the previous year. Operating profit also increased from £48.6m to £49.2m, and profit per equity partner was recorded at £846,000.

Progress was made across all core practice areas – banking and finance, corporate and commercial, dispute resolution and risk, personal and family, and real estate – with each one reporting record income.

Investments in people saw Brodies’ headcount grow by 5%, from 794 to 837. That included three strategic lateral partner hires and three partner promotions. The firm also invested in salary increases and bonus payments; all eligible colleagues will receive a firmwide bonus of 3%, and individual performance bonuses were awarded during the year.

Brodies fulfilled its commitment to investing in its premises, with the upgrade of offices in Aberdeen and Glasgow completing earlier this year.

Cash balances at year-end were £20.9m, reflective of the firm’s planned investment in recruitment, IT and in particular, infrastructure.

This year the firm is presenting consolidated accounts for the first time, reflecting the trading of Brodies Middle East LLP, a separate LLP which operates from Abu Dhabi and supports existing and new clients throughout the region.

Managing partner Stephen Goldie said: “The progress that we have made across each of our practice areas is underpinned by clients who continue to trust us and seek our assistance in times of challenge and opportunity. All our practice areas are committed to delivering excellent service. Progress has been made notwithstanding another period of flux in the economic, social and political environment, where higher interest rates and headwinds from the transactional markets have impacted the business decisions and activities that clients undertake.

“Over the past year, we have invested in the areas that we consider critical to the continued growth of our firm; recognition for our colleagues, their skills and the value they bring to our clients, upgrading the places in which we work and collaborate, and advancing the technology that supports us in delivering first-class service to our clients.

“Our strategic plans for the next three-year cycle are now underway and we look to the future with confidence, in ourselves and in the resilience and ambitions of the clients that we work with.”