Law firm Brodies LLP is closing the gap on Scotland’s big four in the industry after another leap in profits.

The commercial law firm, which has offices in Glasgow and Edinburgh, saw its gross profits jump almost 30% to £15.1m last year on a turnover of £37m, according to figures just released.

Brodies, the largest independent law firm practising solely in Scotland, increased turnover by 23% during a year, which included a number of major client wins.

In the past three years, Brodies has doubled turnover and the latest figures represent the eighth consecutive year of revenue growth in excess of 10%.

It is now just behind rival Shepherd and Wedderburn, whose last reported turnover of £39m places it fourth in Scotland. Dundas & Wilson and McGrigors remain neck and neck at the top with turnover of £60.8m and £60.5m respectively, while Maclay Murray Spens comes third with £55m.

Brodies’ growth has been fuelled in part by its expansion into Glasgow, where it bought seven-partner firm Bishops Solicitors last year.

Net profit was £12.4m, up 23% from last year. Real estate and litigation remain the firm’s biggest billers, each accounting for around 30% of turnover, with corporate contributing around 25% last year.

Brodies increased its partnership to 62 in June. Strategic appointments over the year included partners Andrew Rigby from Addleshaw Goddard, Peter Kelly and Colin McIntosh from DLA Piper and Rachel Grant from Semple Fraser, as well as Isobel d’Inverno as director of corporate tax. She came from MacRoberts.

Brodies’ managing partner, Bill Drummond, said it had been another remarkable year for the firm. “We have again reached our financial targets by delivering premium client service through significant investment,” he said.

The firm was also named Scotland Law Firm of the Year at last week’s Who’s Who legal awards.

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