Thorntons strategic planning delivers positive financial results
Thorntons has increased its turnover by almost £1.9 million to £16.27m over the last year, following careful strategic planning and investment.
The accounts also show that operating profits have increased and profit before members’ remuneration stood at £3.98m, compared with £2.66m from the previous year.
In addition, since this latest set of financial results, Thorntons has grown significantly, following mergers with Steel Eldridge Stewart and Murray Donald.
This has increased the firm’s head count to 42 partners and more than 400 employees.
Jack Robertson, chairman of Thorntons (pictured), said: “We’ve been pleased that the investment in our strategic plan has resulted in improved financial performance.
“Our significant growth in turnover and profit is primarily a result of our focus on certain core strategic areas and is a testament to the hard work of our partners and staff, and the loyalty and support of our clients.
“We’re delighted to have completed the mergers with Steel Eldridge Stewart and Murray Donald in the latter part of 2014 and we are already pursuing new opportunities for the enlarged business.
“An example of this is the expansion of our specialist agricultural and land and rural business expertise into Fife.
“Another focus for the firm for the year ahead is investment in our premises. In what is our 11th year of operation in Edinburgh, we are at the advanced stages of a move from our current site in Alva Street to larger offices in Melville Street.
“This new location will allow us to continue to add to our service offering in Edinburgh which already consists of agricultural, IP, commercial property and litigation expertise.
“We’ve now started work on our strategic plan for the next five years and will be communicating this to our staff during the course of 2015.
“In a year of consolidation, we’re continuing to trade well and we expect the turnover of our enlarged business to break through the £20m barrier in our next financial year.”
Thorntons is headquartered in Dundee and has a network of offices across the east, including in Angus, Perthshire, Fife and Edinburgh.