Group turnover, including subsidiary Ledingham Chalmers Financial, was £14.2m, compared with £13.6m in 2021/22. Pre-tax profit was slightly down on the year before: £3.5m compared with £4m.

Managing partner Jennifer Young said much of the difference in profit is due to investment in its workforce combined with factors affecting all businesses such as inflation and higher operating overheads.

Mrs Young said: “All that means we’re not wedded to the numbers we outlined in 2019 to double turnover to £25 million by 2025.

“We’re operating in a competitive post-pandemic marketplace for attracting and retaining talent – and we’re investing in a fast-growing workforce. We continue to benchmark salaries as part of our long-term sustainable growth strategy.”

The firm also allocated just under £280,000 in non-contractual bonuses in the last financial year, including through its performance related pay scheme.

It has also filled three senior roles in Aberdeen and Edinburgh.

Partner Mike Morrice joined the commercial property team in Aberdeen in October from Burness Paull, and Gary Hunt came on board in November as head of HR, also in Aberdeen. Mr Hunt has around 25 years’ HR experience in the energy sector.

Another senior hire, Edinburgh-based Coral Bain, came on board in the newly created pan-Scotland head of risk and compliance role in October, overseeing aspects such as Law Society of Scotland standards and regulations, anti-money laundering (AML) rules and data protection.

Coming from Addleshaw Goddard, she is a qualified solicitor with specialist experience in construction and engineering disputes as well as in professional regulatory risk, ethics, and governance.