Gillespie Macandrew announces its financial results for the year ending 29 February 2024. The firm has continued to grow with turnover reaching £17.7m, representing a 5.5% increase on the previous year and following two successive years of exceptionally high growth. Progress was driven by strong results in each of the firm’s four core sectors, Land & Rural Business, Energy, Private Client and Commercial Real Estate, reflecting its strong reputation and the quality of its services to clients.
Profits have also increased to £5.25m, representing year-on-year growth of over 6%, achieved without significant increase in headcount signalling improvements in underlying productivity. This follows a series of investment projects in line with the firm’s strategic growth plans including three partner-level lateral hires to underpin the strengths of its leading Private Client and Tax, Land & Rural and Corporate service lines, the refurbishment of its Edinburgh office and significant IT enhancements further modernising the business.
The firm’s success enabled Gillespie Macandrew to reward its people with a firm-wide bonus of 6.5%, noticeably above the typical rate for larger Scottish Law firms for the third consecutive year.
Chief Executive Officer, Robert Graham-Campbell, said: “These excellent results reflect the quality of the firm’s business, underpinned by the hard work, initiative, and ongoing commitment of our colleagues to deliver excellent client service. In addition to major investment projects across our business, we have for the first time published our ESG strategy and carbon footprint audit results, reflecting our dedication to achieving sustainable growth and ethical practices. We continue to attract talented individuals to join our expanding team with our priority focused on offering a compelling combination of career opportunity, collaborative workplace culture and ethical purpose.”
Earlier this year, Co-Head of Private Client Agnes Mallon joined the Board having been with Gillespie Macandrew for over 10 years, with a further three internal partner appointments adding to its strengths in Housebuilder, Banking & Finance and Family, bringing the total number of partners to 29.
Gillespie Macandrew has offices in Edinburgh, Glasgow and Perth and advises individuals, families and businesses on all areas of land and rural matters, private client, commercial real estate, energy, tax and disputes, combining a personal approach with specialist knowledge in its chosen sectors.
