Latest news with #Brodies
The Herald Scotland
21-07-2025
- Business
- The Herald Scotland
Edinburgh law firm Shepherd and Wedderburn hikes profits
The results reveal a 10% increase in turnover to £78.3 million, which helped net profits surge by 20% to £36.1m in the year ending April 30. According to the firm, the performance reflected its 'sustained momentum and sharp focus on its strategic priorities'. The update comes in the wake of strong results reported by fellow Scottish law firms Harper Macleod, Brodies, and Complete Clarity and Simplicity Legal in recent weeks. Shepherd and Wedderburn managing partner Andrew Blain said: 'I am pleased we have delivered another year of strong growth. Our performance reflects the strength of our client relationships and our investment in key sectors and practice areas, including clean energy, real estate and infrastructure, financial services, technology and life sciences and private wealth. Why the case for a 'Scottish visa' just got stronger Scotch whisky chief pays price as global turmoil hits industry Major business survey reveals 'standout' view on 'Scottish visa' Shares dive in Scotch whisky firm as 'volatile' conditions sweep across sector 'The quality of the talent we have attracted to join us over the last year has deepened our expertise in a number of strategically important areas helping us to secure mandates from existing and new clients. We are grateful to our clients for continuing to place their trust in us. 'Looking ahead, we will continue to invest in talent and solutions to amplify our support to clients as they navigate complex market landscapes.' Shepherd and Wedderburn, which has offices in Aberdeen, Glasgow, [[Edinburgh]], London and Dublin, revealed that it advised on a number of high-profile corporate deals over the period. It acted for AviAlliance on its £1.53 billion acquisition of AGS Airports, owner of [[Aberdeen]], Glasgow, and Southampton airports, and for Scottish National Investment Bank on its investments into Subsea Micropiles, iGii, ForEV, and Orbex. It advised Canadian Solar, a battery energy storage systems supplier and contractor, on the Coalburn 1 Battery Storage Project, a 500 megawatt site in South Lanarkshire, and acted on behalf of British Land on the acquisitions of Queens Drive Retail Park in Kilmarnock and Inshes Retail Park, Inverness. The firm appointed five new partners over the period, including Craig Whelton in planning, Claire MacLean in real estate and infrastructure, and Graham Young in project finance. Tricia Walker and Andrew Knight were appointed partners in the employment team, Shepherd and Wedderburn also promoted Gavin Charlton to partner in the employee shares incentives team, and Pamela Binnie (real estate and infrastructure) and Roddy Forgie (media and technology) to legal director. Mr Blain added: 'We remain focused on our strategic priorities and are excited about the opportunities that lie ahead as we continue to support our clients in an ever-evolving market.' The firm noted that it received two accolades, top employer of the year in the medium business category (250 to 1,000 employees) and the prize for best diversity and inclusion dynamic in the workplace, at The Herald Top Employer Awards.
The Herald Scotland
17-07-2025
- Business
- The Herald Scotland
Brodies chief declares firm embracing AI with 'open arms'
He told The Herald: 'The rise of generative AI is an opportunity for the legal sector, and having tech that will help free up our colleagues to focus even more on our clients is something that we welcome with open arms. 'The firm has already assessed and adopted new ways of working that involve the latest technology, including use cases established through immersive AI labs that our innovation and technology team, together with teams of lawyers, worked on last year. 'When appropriate, AI tools can be used in tandem with lawyers to review and summarise information. Our evaluation will continue as new and improved products come to market but we also see people as being key to unlocking more use cases. The challenge lies in identifying and using AI in a way that creates efficiencies, freeing up lawyers to do the parts where clients require and benefit from human judgement, insight and interaction.' 'Confusion and uncertainty': Scotch whisky rocked by global upheaval Energy chief's price pledge as £300m Glasgow district heating scheme takes shape Edinburgh firm outguns forecasts after snubbing £1bn takeover approach 'Deeply concerning': More Scots firms plan to shut than expand Mr Goldie's comments came as Brodies booked a 15th consecutive year of growth. Brodies reported this week that its turnover had increased by 11% to £126.7 million in the year ended April 30, lifting operating profits above £50m, against a backdrop of domestic and global headwinds. The firm said it had seen growth across all of its core practice areas over the period, and highlighted its work on a number of major corporate deals. These included 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. Mr Goldie told The Herald the firm had seen an increase in appetite for corporate deal-making in Scotland, despite the volatile backdrop. He said: '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.'
The Herald Scotland
15-07-2025
- Business
- The Herald Scotland
'Picturesque' Scottish estate with walled gardens for sale
Strutt and Parker is marketing Pluscarden Estate near Elgin which it described as an 'exceptional mixed-use estate'. It covers 1,365 acres and is offered for sale as a whole or in six lots. The agent said: 'The estate includes around 775 acres of arable and pastureland, as well as 545 acres of predominantly coniferous woodland, offering both immediate and long-term timber income potential. 'The main house, completed in 2008, sits in an elevated position and has been designed in a traditional style, with generous proportions and modern finishes throughout.' The estate includes arable land. (Image: Strutt & Parker) The agent also said: 'The gardens themselves are a highlight - mature, colourful and thoughtfully laid out, with sweeping lawns, established borders and a sheltered walled garden that hints at the property's more ornamental past.' The estate includes a second house - a traditional four-bedroom property known as Woodside - as well as a further cottage, a bothy and a range of traditional and modern outbuildings. It also includes a general-purpose agricultural building, workshops, garaging and traditional barns that could suit a range of future uses. The gardens are 'a highlight'. (Image: Strutt & Parker) The agent said: 'Pluscarden's location is part of its appeal: tucked into a quiet corner of Moray but just a short drive from Elgin's amenities, the sandy beaches of the Moray Firth, and the Speyside whisky trail'. Inverness is around 45 miles west, while Aberdeen lies 70 miles to the east, which the agent said puts the estate within reach of airports, mainline rail connections and the A96 corridor. Euan MacCrimmon, of Strutt and Parker in Inverness, said: 'Pluscarden Estate is an exceptional mixed-use estate - it's got the balance right. The combination of mature woodland, well-managed commercial forestry and prime farmland gives it strong fundamentals, while the principal house and gardens offer that lifestyle appeal. It's rare to find something of this scale, diversity and accessibility in this part of Scotland.' The estate is being marketed at offers over £6.5 million. Scottish law firm defies 'global headwinds' An Edinburgh-based legal giant has signalled an increasing appetite for deal-making across key sectors in Scotland as it booked a 15th consecutive year of growth. Stephen Goldie, managing partner of Brodies, offered an upbeat assessment of the corporate outlook following a tumultuous first half of the year defined by macroeconomic and geopolitical upheaval. 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. Scottish 'centre of excellence' sold to French giant A French group specialising in testing, inspection and certification has acquired a second business in Scotland in the latest of a series of "strategic investments" to strengthen its building safety and compliance services.
Scotsman
15-07-2025
- Business
- Scotsman
15th year of growth triggers bonuses for staff at Scottish legal giant Brodies
Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Brodies, the Scottish legal heavyweight, has racked up its 15th consecutive year of growth, triggering a 5 per cent bonus for hundreds of staff. The firm's latest results reveal that total revenues rose to £126.7 million for the year ending April 30, 2025 - an increase of some 11 per cent from £114.3m the previous year. Operating profit also grew, reaching in excess of £50m, up from £49.2m, with profit per equity partner recorded at £885,296. Advertisement Hide Ad Advertisement Hide Ad Continued investment in several key areas saw headcount increase by about 5 per cent, from 837 to 883. This included the appointment of banking and finance partner James Wilson and seven internal partner promotions. Stephen Goldie is managing partner of law firm Brodies. Edinburgh-headquartered Brodies - widely seen as being Scotland's largest indigenous law firm - awarded a 5 per cent bonus to all eligible colleagues, alongside individual performance bonuses and salary increases. All the firm's core practice areas are said to have made progress during the past year, including banking and finance, corporate and commercial, dispute resolution and property. The full-service firm saw growth in instructions for work in Scotland, the UK and internationally. Cash balances at year-end stood at £23.7m, up from £20.9m the previous year. Advertisement Hide Ad Advertisement Hide Ad The latest results come as Iain Rutherford steps up to chair, succeeding Christine O'Neill, who completed four three-year terms in the role. She continues in her role as a partner. Managing partner Stephen Goldie said: 'Achieving progress amid continuing domestic and global headwinds reflects the resilience and ambition of our clients in Scotland, across the UK, and internationally. 'Recording our 15th 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.' Advertisement Hide Ad Advertisement Hide Ad He 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. '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.' Highlights from the financial year in review include acting for Parkmead Group on its sale of the entire issued share capital of Parkmead (E&P) to Serica Energy, and being the lead legal adviser in the creation of new template agreements to encourage landowners and investors across the UK to participate in woodland and peatland carbon projects. The firm also acted on the build to rent (BTR) investment acquisition of Granary Quay, Glasgow for £70m.
The Herald Scotland
15-07-2025
- Business
- The Herald Scotland
Scottish law firm Brodies defies 'global headwinds'
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. 'Confusion and uncertainty': Scotch whisky rocked by global upheaval New Scots planning chiefs flag 'headwinds' amid signs of activity Energy chief's price pledge as £300m Glasgow district heating scheme takes shape 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."
