22nd January 2016
MSI's Scottish law member Thorntons has announced an increase in both turnover and profits following another successful year. The firm’s turnover increased by £3.7million as the business continued to expand, while profits increased from £3.9million to £4million over the same period.
The significant 21 per cent increase in turnover was driven by a combination of further organic growth in certain sectors, and mergers with the firms of Steel Eldridge Stewart and Murray Donald in Fife in 2014.
Despite this major expansion, the firm’s dedicated teams have remained focused on providing an excellent service to clients across all practice areas, ensuring that profits remained steady.
The results cap a fine year for the Thorntons, which recently achieved its best ever rankings in the prestigious Chambers UK Legal Directory.
Earlier this year, the firm climbed 33 places to eighth in this year’s prestigious SME 300 table following a year in which both turnover and profits grew significantly.
Craig Nicol, Joint Managing Partner at Thorntons, said: “Our turnover increased exceptionally this year, driven primarily by growth in certain service lines and twomajor mergers which have increased the size of the business significantly. Though continuing investment and the costs associated with mergers have impacted on our short term profitability, our commitment to improving the efficiency of our operational processes will ensure increased profits and stability in future years.
“The commitment demonstrated by the entire Thorntons team to providing the best possible service to clients has ensured that our business has remained resilient.
“It is this dedication that fills me with confidence that we have a strong base from which to drive Thorntons forward to new successes.”
As one of Scotland's largest full service law firms with 47 partners and over 400 staff. From our offices in Dundee, Edinburgh, Fife, Perth and Angus, we offer our clients high quality, cost-effective and practical advice.
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