Scottish firm Thorntons’ 2010-11 revenue of £10.9m is roughly similar to the turnover it posted the previous year. The firm also has estate agency and investment services divisions, which brought in £2.2m between them in 2010-11, although this revenue is not included in the £10.9m figure.
Thorntons’ biggest department is litigation, contributing 34 per cent of turnover. This includes a growing personal injury team. Private client work is also key, making up a quarter of overall turnover, while business law advice provides 20 per cent of revenue.
In the future Thorntons is looking to diversify its service delivery, including offering wills and other documents online.
The firm operates a two-tier partnership structure. Its 16 equity partners are remunerated via a lockstep, while the remaining 12 non-equity partners are paid a fixed profit share. Finance director Graeme Brown said profit was up slightly on last year’s.