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Law firm Brodies said it continued to invest in the practice and grow headcount in a year of stand-still revenue and profit.
The Edinburgh-based firm reported revenue of £82.5m for the 12 months to 30 April 2021 against £82m in the previous year. Operating profit was also slightly ahead at £39m from £38.5m in the previous year. Cash balances grew to £30.7m from £25.4m.
Profit per equity partner for the 2020/21 financial year was just under £680,000, with payouts unchanged from the previous 12 months after the firm said it decided to ensure employees benefited from the recovery seen in activity levels during the year.
Throughout the year Brodies continued to trade without access to external resources, or borrowings, nor did it seek UK Government assistance in response to the COVID-19 pandemic.