News In Focus

Growth year at Ledingham Chalmers

5 September 2012

Law firm Ledingham Chalmers has reported improved financial figures for 2011-12.

Turnover for the year to 31 March 2012 for the Aberdeen-headquartered firm and its subsidiary, Golden Square Wealth Management, topped £10m for the first time since the firm became an LLP, rising 4.7% to £10.4m.

The year included the opening of a new base in Stirling. Group profits totalled £3.8m, up 2.8%.

In 2010-11 the corresponding figures showed 3% revenue growth with profits up 2.5%.

Ledingham Chalmers reports a strong showing by its private client and corporate departments, rising by 9.7% and 8.6% on the previous year, respectively – with transactional activity in the latter showing signs of slow recovery toward levels seen pre-recession.

Costs were held at the previous year's levels, and headcount maintained at 143 staff.

Jennifer Young, who succeeded David Laing as chairman in January 2012, said: "We recognise that we cannot stand still, in terms of how we organise and manage our business, and how we maintain and increase our market share.

"Client service, investment in our people, financial sustainability and business reputation are the clear focus of our future growth plans, and we have already taken steps forward in terms of pushing ourselves to meet continuous growth targets."

She added that the firm aims to expand further in central Scotland, especially in farming, food, fish, forestry and renewables.

Four first-year trainees have been taken on this year, alongside five of last year's intake now in their second year.