Ledingham Chalmers hails strong performance despite economic challenges

Ledingham Chalmers has recorded group turnover comparable to record figures seen over the last two years.

The firm said this underlines a strong performance in the face of wider economic and political uncertainty and challenges, including the oil price downturn.

Group turnover for year ending 31 March, 2016 was almost £12.3 million, and includes subsidiary Golden Square Wealth Management.

This is compared with £12.5m and £12.4m in 2014/15 and 2013/14 respectively.

Group profit this year was £3.8m compared with £4.3m in 2014/15.

Chairman and partner Jennifer Young said: “During 2015/16, like our competitors and indeed our clients, we were not immune to the difficulties faced in the regions and sectors in which we operate.

“Mindful of, and sensitive to, this environment, and bearing in mind the competitiveness of the marketplace in terms of business and recruitment, we continue to focus on securing sustainable growth.

“And importantly these figures reflect investment in people, offices and infrastructure, as part of that long-term commitment.”

Brian Hay, the firm’s chief executive officer, added: “Many parts of the business have experienced broadly similar levels of activity to last year.

“And in fact we saw an increase in residential property market share, although the market itself – particularly in Aberdeen – remains slow.

“Uncertainty within the energy sector continues to impact the economy, nonetheless at the halfway point of 2016/17 work in progress is on course to deliver budget.”

Mrs Young added: “We continue to be firmly established within the leading pack of firms of a similar size – and bigger – and are consistently commended for the quality of our people, and our sound, pragmatic and tactical guidance.

“This resonates particularly well this year, as we mark the 25th anniversary since Ledingham Chalmers came into being following the merger of C&PH Chalmers and Edmonds and Ledingham.”