Thorntons’ profits hit £10m as growth returns to pre-Covid levels
Thorntons has seen its turnover and operating profits returned to pre-Covid growth rates with both increasing by more than 10 per cent compared with the previous year.
Turnover increased by 12 per cent, hitting £35 million with operating profit growing by 11 per cent to just over £10m.
The period covers to year end May 31, 2022, which marks the first full financial year under Lesley Larg, who became managing partner in June 2021.
During its last financial year, the firm saw three partner teams join from MacRoberts, and mergers with Dundee firm Kim Barclay Solicitors and Edinburgh practice Stuart and Stuart WS – which combined, grew the company’s headcount by more than 45 people. Thorntons also created an additional 82 new jobs over the year.
Ms Larg said: “It has been a very significant year for the firm which has seen our results return to the double-digit growth we experienced prior to the pandemic.
“The acquisition of three very successful law firms has only strengthened our offering as a business and the results show across-the-board growth from all our teams. They also highlight the progress of our five-year strategic plan which focuses on organic, sustainable growth in markets where we have industry-leading expertise.
“One of our key values is community and we are proud to have supported more than 75 charities and community causes across the period including a further charity wills collaboration with Cash for Kids, which boosted our donation total to £550,000 since the campaign began 25 years ago.”