Scottish independent law firm BTO Solicitors LLP has published details of its financial performance in its first year of trading as a Limited Liability Partnership, reporting record results.
In the firm’s annual review, BTO Chairman Alan Borthwick revealed revenue for the twelve-month trading period - 1 April 2016 – 31 March 2017 - was £18.916m and profit was £7.82m. This represents a 62% increase in revenue over the past five years. There has also been a 50% increase in personnel during that same period.
The firm’s four main business divisions - commercial dispute resolution, insurance, private client and property, corporate and construction - all performed well during the trading period. BTO has also seen a considerable increase in demand for its specialist units such as Data Protection/Cybercrime, Family Law and Commercial Property.
Alan Borthwick, chairman of BTO, said: “We are implementing our current five year business plan with success against the background of a challenging marketplace for professional services firms and a changing landscape for the legal profession in Scotland.
“Our consistently strong financial results have enabled the Partners to invest with confidence in state-of-the-art IT systems, infrastructure and first class people.
“This stable financial position allows us to remain on course with our business aims and in particular to further expand the range and depth of services available to our clients. We believe we are well placed to achieve our business objectives and to continue the steady expansion and development of the firm.”
BTO is the sole Scottish member of Mackrell International (MI), a global network of independent law firms with representation in 60 countries. The firm is an active participant in MI in which clients benefit from seamless, professional and cost effective legal services in most major jurisdictions worldwide.