Johnston Carmichael, Scotland’s largest independent firm of chartered accountants and business advisers, has posted a 4% growth in turnover to £45.5m but saw profits dip in what it described as ‘challenging marketplace’
Revenues in the financial year ended 31 May 2018 rose from £43.7m to £45.5m, but net profit before members’ remuneration declined from £12.2m to £11.8m.
The firm, which was founded over 80 years ago, has over 750 staff and partners across 11 locations, and is the PKF member firm in Scotland.
The last year also saw Johnston Carmichael Wealth, the firm’s wealth advisory business, achieve a 7% increase in turnover, seeing growth in revenues from £4.35m to £4.67m.
Sandy Manson, Johnston Carmichael chief executive, said: ‘We are encouraged that the firm continues to perform well despite challenges in the marketplace following the downturn in the oil and gas industry.
‘Our diversity in sectors, business lines and geographical locations has enabled us to trade robustly and to continue investing in all parts of our business with confidence.’
Report by Pat Sweet
