Scottish law firm Brodies defies 'global headwinds'

The Herald Scotland

15-07-2025

The firm, which employs nearly 900 people across offices in Edinburgh, Glasgow, Aberdeen, Inverness, and London, highlighted the 'resilience and ambition' of its clients amid the domestic and global headwinds as it reported an 11% rise in turnover to £126.7 million for the year ended April 30.
The rise in turnover, which was driven by growth across all of the firm's core practice areas – banking and finance, corporate and commercial, dispute resolution and risk, personal and family, and real estate – helped lift operating profit above £50m from £49.2m the previous year. Profit per equity partner was recorded at £885,296.
Asked to assess the current appetite for deal-making in Scotland, Mr Goldie, who succeeded Nick Scott in the top job last year, told The Herald: 'There have been fluctuations in the flow of UK and international deals, with some volatility in the investment and M&A (mergers and acquisitions) markets generally, largely attributable to macroeconomic and geopolitical issues.
'However, with interest rates and inflation in the UK having largely stabilised, that degree of increased certainty in the market is feeding an appetite for deals in many key sectors across the Scottish market. From our clients we're seeing those movements particularly evident in, for example, the energy, technology and business services sectors.'
Highlights of its most recent financial year flagged by Brodies include acting for Parkmead Group, the energy firm built by North Sea veteran Tom Cross, on the sale of its UK oil assets to Serica Energy, and for Three60 Energy on its acquisition of the entire issued share capital of Samphire Subsea Limited.
Brodies also acted on Europa's £70m acquisition of the Granary Quay build-to-rent residential development overlooking the River Clyde in Glasgow from Dandara Group.
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Mr Goldie noted: 'Achieving progress amid continuing domestic and global headwinds reflects the resilience and ambition of our clients in Scotland, across the UK, and internationally. Their trust in us to deliver results on complex and exciting mandates inspires us to work harder and smarter every day.
'Recording our fifteenth consecutive year of growth is testament to the strength of those relationships and the dedication of our colleagues to deliver exceptional legal services.
'As we enter the second year of our current three-year strategic cycle, we remain focused on those plans—recognising the talent and contribution of our colleagues, encouraging greater collaboration across our firm and with our clients, and investing in our offices and in technology that augments the high standards our clients expect.'
Brodies said it invested in the Highlands and Islands over the period, including to expand its Inverness office to support its growth ambitions for the region.
The firm made further additions to its team, with its headcount climbing by 5% to 883. Key hires include the appointment of banking and finance partner James Wilson, while seven internal partner promotions were made.
A 5% bonus was paid to all eligible colleagues, compared with 3% last year, alongside individual performance bonuses and salary increases.
Cash balances at year-ended stood at £23.7m, up from £20.9m at the same stage a year earlier.
The results reflected the first full financial year overseen by Mr Goldie, and came as Iain Rutherford steps up to succeed Christine O'Neill KC as chair. Ms O'Neill, who has completed four three-year terms in the role, continues to be a partner of the firm.
Mr Goldie added: 'We also welcome our new chair, Iain Rutherford, and extend our utmost thanks to Christine O'Neill KC for the considerable wisdom and unwavering commitment she brought to the role of chair. Clients and colleagues alike will continue to benefit from those qualities in her role as a partner in our disputes team.
'The year in review marks my first full year as managing partner. In that time, it has been my privilege to work closely with many colleagues across the firm. I am continually impressed by the exceptional talent and kindness that I witness daily. It reminds me that over and above everything else, we are a people business that believes in our core values."