Profits rise 4%
Investment pays off for Anderson Strathern
Murray McCall: strong platform
Investment in staff, technology and branding has paid off for Scottish legal firm Anderson Strathern which saw a 4% uplift in net profit over the last year.
Income was up 2.5% in line with turnover to £21.5 million while profits per equity partner rose 9%.
Client wins during the year included the National Library of Scotland, Avis, Glasgow Prestwick Airport, Glasgow City Council, Taylor Wimpey, BBC Alba, Carbon Futures, Loch Lomond National Park and the Crown Office and Procurator Fiscal Service.
Dispute Resolution saw significant growth during the year on the back of the 2016 mergers with ADLP and Jeffrey Aitken, and the family law practice experienced healthy organic growth.
Rural land and business saw significant growth and the firm’s employment & pensions team was bolstered by new revenue streams from increased tribunals as well as new streams of immigration law advice.
Private client fared well in a competitive market and property – both commercial real estate and residential – performed well.
During the period the firm launched an advocacy and legal opinions Unit, led by former chairman Robert Carr and staffed by eight solicitor advocates. It also launched a commercial claims company, Alba Claims. Mr Carr stepped down after 12 years and Bruce Farquhar succeeded him.
During the year, the firm invested in its Edinburgh, Glasgow and East Lothian offices, IT projects, as well as brand, marketing and business development.
Murray McCall, Anderson Strathern’s managing partner, said: “By investing in our people, our brand and technology, we have built a strong platform for our next phase of growth.”
Mr Farquhar said: “Anderson Strathern enters 2018 in a position of strength.”
Anderson Strathern Asset Management, the wealth management arm, now has £250m under management and more than 400 clients.