Aberdeen law firm Ledingham Chalmers has broken its record turnover figures for the third successive year.
In its latest accounts up to 31 March 2024, turnover rose to £14.9 million, up from £14.2m in the previous year.
However, pre-tax profits dropped to £3.2m, compared to £3.5m.
The law firm also announced a wave of senior leadership changes to reflect its “sustainable growth”.
Jennifer Young has stepped down as managing partner while Craig Pike, has been elected as chair.
Leadership changes
Mrs Young will continue as a partner in the Aberdeen office on Rose Street.
She said: “Being a partner in a firm with the reputation Ledingham Chalmers has is an honour, and I’m proud of what we’ve accomplished so far.
“As I transition back to client-facing work, I’ll be doing whatever I can too to support the management board — and the firm as a whole — in terms of our sustainable growth aspirations.”
An elected board will now be responsible for the firm’s day-to-day management and driving forward its strategy.
This board comprises Inverness-based partners JP Campbell and Victoria Leslie, together with Aberdeen-based partner Peter Murray.
All three will serve for an initial 18 months alongside the firm’s chief operating officer, Chris Mackenzie.
New chair Mr Pike added: “Jennifer was keen to step back into a more client-facing role as a valued partner focusing on her construction law specialism.
“For 12 years, she’s served as chairman and — more recently — managing partner.
“It’s important to acknowledge the integral role she’s played in our success over that time, including helping steer the firm through a global pandemic as well as a period of growth with record turnover as an LLP.”
All estate agency and conveyancing colleagues in Aberdeen will move back to the Johnstone House premises, when the Alford Place lease expires in December.
Ledingham Chalmers record turnover
Ledingham Chalmers said the difference in profit is due to “continued investment in its workforce”.
It also reflects its early investment in moving to a new Inverness office at Cradlehall Business Park.
Since January, 26 people have joined the law firm, which has offices in Aberdeen and Inverness.
Mr Pike said: “Over the last two financial years, we’ve seen record turnover since becoming an LLP along with our highest headcount.
“This growth, combined with a consistently competitive marketplace means the managing partner role has evolved considerably.”
Mr Pike will work closely with the management board and lead all partner meetings.
The firm has a headcount of 194, including 22 partners and recruitment is also underway for a further four posts in Aberdeen and Inverness.
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