Continual growth for leading law firm Thorntons
Wednesday, 16 January 2019
Leading Scottish law firm Thorntons has recorded strong financial results, reporting a 13.1 per cent increase in turnover to £26.9 million, with profits increasing by 14.6 per cent.
The 53 Partner firm, which has 445 staff, is one of the largest full service firms in Scotland, and has undergone an extended period of significant investment.
Thorntons has gone through a series of strategic mergers across the country since 2014 as part of a five year strategy. The firm acquired Pagan Osborne from administration in September 2017.
These mergers and acquisitions have strengthened Thorntons’ profile, particularly its specialist teams in Fife and Edinburgh. The firm has also recently invested in a new commercial brand campaign to continue to increase awareness of Thorntons and its specialisms with scheduled rollout in mid-January 2019.
Commitment to improving the efficiency of operational processes continued for Thorntons. Continued investments in technology, processes and training have assisted the firm in refining its systems to allow lawyers to concentrate on clients and service delivery.
Craig Nicol, Managing Partner at Thorntons, said: “Our latest financial results represent our commitment to long term investment with a clear strategy for growth across the business. Pagan Osborne was certainly a significant acquisition and we have made considerable headway in the transition for colleagues and clients into our business.
“We view training and people development as key to achieving our goals and with continued investment we’ve grown the headcount across our offices by 10% in the past 12 months.
“We remain committed to constantly looking to improve our client service and provide our clients across all our locations with a full service offering. Our business levels remain strong amid continued uncertainty in some of our markets. We are, of course, mindful of Brexit repercussions but we are confident that we have a stable platform and income mix from which to sustain our growth.
“Looking immediately ahead, we are investing in a multi-media brand campaign, including TV, across all businesses locations. We hope this will position Thorntons as the firm of choice for all legal needs.”
Thorntons has a network of 13 offices covering Dundee, Edinburgh, Fife, Angus and Perth. This footprint allows the firm to deliver specialist advice where clients need it. The capital has been a particular location of development for Thorntons with new premises secured at Haymarket last year and high profile senior appointments.
Thorntons has also had a hugely successful 12 months receiving a number of awards, recommendations and recognitions in top Scottish business and UK-wide trade polls. This includes Firm of the Year finalist in Scott + Co Legal Awards and Commended Law Firm of the Year in The Lawyer Awards.