Gillespie Macandrew Law Firm Reports Increase in Profits Despite “Tough Conditions in the Industry”

The company said the initial 2020 lockdown was almost exactly aligned with the start of its fiscal year. Revenue for the year ended February 28, 2021 was £ 13.5million, up from £ 14.4million the year before.

Bosses said business had been affected in the first months of the lockdown, especially with real estate and court works, where external factors kept these markets from functioning normally. However, overall activity levels for the second half of the year returned to pre-pandemic levels.

The ‘mitigation actions’ taken during the initial foreclosure period, coupled with the stronger business environment experienced during the latter part of the year, resulted in profits of £ 3.9million before compensation for members, compared to £ 3.5 million.

Partners at Gillespie Macandrew, which has offices in Edinburgh, Glasgow and Perth, donate 1% of their pre-tax profits each year to charity, with total donations over the past five years amounting to more than 130,000 £.

Managing Director Robert Graham-Campbell said: “We have achieved another round of strong financial results despite challenging conditions in the industry and for our clients, particularly in the first months of foreclosure.

“I am extremely proud of our team and how quickly we have adapted to working from home while continuing to provide high quality legal services to our clients.

“The decisive mitigation actions we took at the start of the year have allowed us to maintain the resources of the company, putting us in a good position to deal with the high levels of business activity we are experiencing today.

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