Thorntons sees profits up eight per cent to £4.3m

Thorntons’ profits were up eight per cent to £4.3 miliion while revenue jumped 14 per cent to £22.8m in the year to 31 May 2016.

The firm has seen a number of mergers in recent years, including with Steel Eldridge Stewart and Murray Donald in Fife.

Kirkcaldy firm Clarkson Hamilton also merged with Thorntons.

Chairman Colin Graham said: “Continuing investment and merger integration costs have had an impact on our short-term profitability.

“We are confident our commitment to continuously improving the efficiency of our operational processes will ensure future years bring increased profitability.

“These results represent our commitment to invest for the long term and our clear strategy for growth across our business. We are confident we have a stable base from which to grow in the short and medium term.”

Employee numbers rose from 280 to 314 last year while staff costs went up from £8.2m to £9.4m. The number of staff now sits at 376.

There are now 45 partners at the firm, with 41 of them taking a share of the profits.