Scottish law firm Thorntons has recorded strong financial results to May 2017 – reporting growth in turnover and profit across all areas of the business.
The 56 Partner firm, one of the largest full-service firms in Scotland, has undergone a period of significant investment which has resulted in an overall increase in turnover of 4.5% to £23.9m.
Profitability has increased by 18% and the firm says that investment in service provision will ensure increased profitability in the coming years.
Craig Nicol, joint managing partner at Thorntons, said: “Following a significant period of growth we are now focusing on strengthening our full service offering which in turn benefits both our long standing and new clients.
”We are proud of our office footprint and our spread of locations, which allow us to deliver advice where clients need it. We’ll continue to develop all our office locations, in particular Edinburgh as we seek new premises in the capital, as well as targeted development across all of our specialist sectors. Our business has continued to grow through the latter part of 2017.”
Thorntons has a network of 13 offices covering Dundee, Angus, Edinburgh, Fife and Perthshire. The footprint of the firm has grown following a number of strategic mergers and investments.
Most recently, in September 2017, Thorntons acquired the Fife and Edinburgh firm Pagan Osborne out of administration, saving 65 jobs. At the time, the firm said its aim was to provide a seamless transition for clients and preserve the maximum number of jobs.
Craig added: “We are still at early stages of integrating the Pagan Osborne business and hope to be able to deliver strength and depth to our new who came when we completed the acquisition.
“Our latest financial results will enable us to continue to invest in our employees and technology as we endeavour to build on the hard work of our teams across the firm.”