Solicitors on growth track
Thorntons sees profits uplift following merger spree
Colin Graham and Craig Nichol
Scottish law firm Thorntons has reported a 14.6% rise in profits on a 13.1% increase in turnover to £26.9 million.
The 53 partner firm, which has 445 staff and 13 offices, has expanded through a series of strategic mergers across the country since 2014. It acquired Pagan Osborne from administration in September 2017.
Craig Nicol, managing partner, said: “Our latest financial results represent our commitment to long term investment with a clear strategy for growth across the business. Pagan Osborne was certainly a significant acquisition and we have made considerable headway in the transition for colleagues and clients into our business.
“We view training and people development as key to achieving our goals and with continued investment we’ve grown the headcount across our offices by 10% in the past 12 months.
“Our business levels remain strong amid continued uncertainty in some of our markets. We are, of course, mindful of Brexit repercussions but we are confident that we have a stable platform and income mix from which to sustain our growth.”