Law firm MacRoberts has revealed how opening a new office in Dundee helped it boost profits by more than 10%.
The 43-strong partnership said the size of its presence in the city had doubled since it opened six months ago, and its team was already involved in a number of undisclosed “major” deals.
Turnover for the year to April increased by one percentage point to £17.5 million, and profits climbed to £6.22m.
Managing partner Craig Turnbull said the results were “excellent” given the ongoing tumult in the legal sector.
“Increased turnover and profits are rare,” he said. “This a great tribute to the hard work of our staff and, while economic conditions are still challenging, we are delighted with the progress we are making.”
The 160-year-old firm, which announced plans to add a Dundee office to its existing presence in Glasgow and Edinburgh in February, said the move was one of several significant developments during the 12-month period. A new strategic plan was adopted in August last year, with Sally Jones appointed as the company’s first ever chief operating officer.
“In common with most companies, legal firms have had to evolve in the way we operate,” Mr Turnbull said.
“Sally Jones brings a wealth of leadership experience from the professional services sector, public sector and government in London. She has been a great addition to our management team and we are already seeing significant benefits, all designed to ensure that MacRoberts continues to offer unrivalled service to clients.”
The firm also revealed “significant renewal” in the MacRoberts’ team, with nearly 25% of the current partners having joined the firm in the last two years.
“New faces, new ideas and new services are all vital in today’s market,” Mr Turnbull added.
“We will be adding three new partners to the team early in 2014, bringing the total to 46.”