Law firm Brodies named big deals involving its teams in Aberdeen and Inverness among highlights in a 14th consecutive year of growth.
In the financial year to April 30 2024, Brodies saw revenue grow by just over 7.5%£114.3 million. Operating profits increased to £49.2m, from £48.6m a year earlier.
Meanwhile, profit per equity partner during the latest period came in at £846,000.
Aberdeen office upgrade completed
The firm reported progress across all core practice areas – banking and finance, corporate and commercial, dispute resolution and risk, personal and family, and real estate, with each one reporting record income.
Brodies completed upgrades of its offices in Aberdeen and Glasgow.
It also expanded overseas, launching Abu Dhabi-based Brodies Middle East.
Other highlights for the firm in 2023-24 include:
- Advising in the purchase of Annan House in Aberdeen, one of the Granite City’s biggest office deals in recent years.
- Advising on a £100m joint credit facility to support the transformation of Ardersier Port into a major energy transition facility.
- Advising RockRose Energy on its £46m acquisition, from EnQuest, of a 15% stake in the UK North Sea Bressay field and EnQuest Producer floating production storage and offloading vessel.
- Acting for Meldrum House Estates in the sale of Meldrum House Country Hotel & Golf Course to Apex Hotels.
- Acting for for Aberdeen-based energy services company Three60 Energy in the acquisition of Flexlife and Pryme Group Holdings.
Law firm’s headcount up 5%, including new partner in Inverness
Brodies’ headcount grow by 5% to 837 during the year to April 30.
New hires include natural capital and rural business partner Gary Webster in the Inverness office.
The firm now has more than 100 partners and 800 employees across offices in Aberdeen, Brussels, Edinburgh, Glasgow, Inverness and London.
Fast-growing Highlands team
There are currently 127 people across the Aberdeen and Inverness offices combined.
The Granite City team comprises 104 people in total, including 21 partners.
Inverness has a 23-strong team, including two partners.
The Highlands office has almost doubled its number of colleagues in a 12-month period (which it also did the previous year).
Brodies is paying “all eligible colleagues” a bonus of 3%.
Individual performance-related bonuses were also awarded during 2023-24.
Managing partner Stephen Goldie said: “The progress that we have made across each of our practice areas is underpinned by clients who continue to trust us and seek our assistance in times of challenge and opportunity.
“Progress has been made, notwithstanding another period of flux in the economic, social and political environment, where higher interest rates and headwinds from the transactional markets have impacted the business decisions and activities that clients undertake.”
Mr Goldie added: “Over the past year, we have invested in the areas that we consider critical to the continued growth of our firm; recognition for our colleagues, their skills and the value they bring to our clients, upgrading the places in which we work and collaborate, and advancing the technology that supports us in delivering first-class service to our clients.”
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