Scottish firm Tods Murray has reported a turnover rise of 7 per cent to £12.6m between 2011/12 and 2012/13, with profits rising by a similar amount.
The figures are an improvement from 2011/12, when the firm saw revenues drop by almost 10 per cent and profits plumment by a quarter (22 January 2013), although remain some way off the firm’s record turnover of £20.9m in 2007/08 and stil lower than £13.06m in 2010/11.
Tods Murray did not provide a profit figure for 2012/13, but executive partner David Dunsire said profits had risen by at least as much as turnover.
The figures include a full year of revenue from legacy firm Fyfe Ireland, which merged with Tods Murray in January 2012 (23 January 2012). Dunsire said revenue from the Fyfe Ireland team was up by 35 per cent, bringing revenue for the wider private client team up 55 per cent.
Meanwhile turnover for the property team was up 28 per cent, and employment revenue rose by 10 per cent.
Overall, Tods Murray’s finance and property departments both brought in 26 per cent of firmwide revenue last year. Litigation was the next largest contributor, representing 21 per cent of revenue.
The firm also added staff and lawyers during the year, reporting a total headcount of 190 compared to 151 in the 2011/12 LLP accounts.