News In Focus
Gillespie Macandrew reports bumper revenue year
Legal firm Gillespie Macandrew achieved more than 10% fee income growth in the year to 28 February 2017, on unaudited figures released by the firm.
The increase took revenue for the year to a firm record of £11.36m, in a fifth straight year of growth for the firm.
Gillespie Macandrew, which has offices in Edinburgh, Glasgow and Perth including Edinburgh estate agents Hunters Residential, has focused on organic business development, and said that a number of significant hires and internal promotions across its sectors had taken the number of partners and staff from 129 to 137 over the past year.
Chief executive Chris West commented: “I am very proud of what the partners and staff have achieved in exceeding our fee revenue growth target this year. We set out to increase fees by around 10% to £11.25m and at the same time to further reduce the money we have tied up in unbilled work and uncollected fees. To finish the year having achieved both aims, as well as continuing to be debt free and to have cash in the bank, is a really positive outcome.”
Final turnover and profit figures will be confirmed when accounts are audited and approved in June 2017.