Partners in law firm Addleshaw Goddard are toasting a 23% increase in their share of annual profits during the year to April 30.
Profits per equity partner came in at £849,000, up from £690,000 in the previous 12 months as Addleshaw Goddard – which in Scotland has offices in Aberdeen, Edinburgh and Glasgow – saw global revenue grow by 12% to £321 million.
The firm reported total distributable profits of £136m, representing a margin of 42%, continuing the upward trajectory seen over the past eight years.
Addleshaw Goddard has in excess of 1,200 lawyers, including more than 250 partners, across 13 offices globally.
The firm said its bonus provision this year would be three times larger than last time in recognition of its “exceptional” performance.
Income growth from the three Scottish offices was in double-digit territory for a fourth consecutive year.
Ross McKenzie, partner in Aberdeen, said the Granite City office continued to “go from strength to strength” after growing headount by 40% during the past year.”
Mr McKenzie added: “The work clients are trusting us to deliver for them allows us to continue to build our position in this market and attract more of the best local talent.
“Our stated aim is to grow in Scotland and in Aberdeen we have a very clear plan to double headcount again over the next two years in order to better serve businesses in the north-east of Scotland in their regional, national and international operations, specifically those in oil and gas and energy transition.”
Fellow Granite City-based partner David McEwing, who has worked in the local market for more than 20 years, was recently appointed co-head of Addleshaw Goddard’s international energy practice, which the practice said reflected “the importance of Aberdeen as an international energy hub to the firm”.
Headline projects for Addleshaw Goddard and its north-east clients during the past year include Aberdeen City Council’s procurement of a £215m joint venture partner to deliver a new hydrogen “hub”, and accountancy firm Anderson Anderson & Brown – both merging with Glasgow-based Hardie Caldwell and acquiring a majority stake in Edinburgh firm Purpose HR.
Addleshaw Goddard’s Aberdeen-based lawyers were also at the heart of Waldorf Production’s £330m-plus acquisition of stakes in the UK North Sea Catcher and Kraken oilfields from Cairn Energy.
David Kirchin, head of Addleshaw Goddard in Scotland, said: “Our teams continue to come together really well, despite being physically apart for so much of the last 18 months.
“I’m continually impressed by the resilience shown and the enthusiasm and focus on supporting our clients.
“In each of the last four years, we have delivered double-digit income growth in Scotland. Our plans see that trajectory being maintained and we can only do this by giving talented lawyers and the best clients even more reasons to choose to work with us.”
Addleshaw Goddard has had an office in Aberdeen since 2017, when the English firm merged with smaller Scottish rival HBJ Gateley to give it a presence north of the border for the first time.
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