Law firm reports 10% rise
Record fee income for Gillespie Macandrew
The firm, which embraces the Edinburgh estate agency Hunters Residential, has continued to focus on organic business development across its offices in Edinburgh, Glasgow and Perth.
Over the year to 28 February it has increased the number of partners and staff from 129 to 137.
Commenting on the unaudited figures, chief executive Chris West, said: “I am very proud of what the partners and staff have achieved in exceeding our fee revenue growth target this year.
“We set out to increase fees by around 10% to £11.25m and at the same time to further reduce the money we have tied up in unbilled work and uncollected fees.
“To finish the year having achieved both aims, as well as continuing to be debt free and to have cash in the bank, is a really positive outcome.”
Chairman Murray Shaw said: “I am delighted with the progress we have made this year further building on the substantial growth we made last year.
“Highlights include achieving our targets through organic growth, improving the breadth and depth of our partner base and services with almost every sector area showing increased business in uncertain and very competitive economic conditions.
“It is testament to the hard work of everyone associated with the firm and as ever we are grateful for the loyalty of existing clients and the engagement with new ones.”
Final turnover and profit figures will be confirmed when accounts are audited and approved in June.