Ledingham Chalmers LLP reports good first year

£7.9 million turnover and £146,000 profit per member in year since forming LLP

News, 3 September 2007

Ledingham Chalmers is claiming an impressive financial performance in its first year since conversion to limited liability partnership status.

The firm, with offices in Aberdeen, Inverness and Edinburgh, achieved turnover of £7.9 million with a net profit before tax of £3.24 million in the year to 31 March, giving an average profit per member of £146,000.

The results are also the first since McGrigors acquired Ledingham Chalmers' oil and gas team early last year. The firm continues to claim the status of one of Scotland’s leading regional full service law firms, servicing industries from energy to agriculture as well as maintaining a sizeable private client practice.

Chairman David Laing said: “While [the average profit] does not represent the actual take home pay of an average partner, it is significant as an indicator which is commonly used to measure the health of law firms. We are justifiably proud of our average which compares favourably with many of the large firms across Scotland.

“Our secure financial position gives us the confidence to make further investments in our people and our systems as well as continue the development of a culture which encourages improvement and innovation."

Mr Laing added that the firm had achieved its main goals in its first year of remaining an established name in business circles, encouraging loyalty from clients and colleagues, and attracting new talent and new clients.