Partners in accountancy firm Johnston Carmichael (JC) have put £750,000 back into the business to “further enhance” its resilience, accounts show.
Reporting increased profits and turnover for the 12 months to May 31 2021, JC said its “capital call” on partners came after the year-end.
Operational resilience has been “another key area of focus” for JC, the Aberdeen-based firm added.
Digitisation and process standardisation have been at the heart of this, it said.
‘Personal resilience’
JC added: “Finally, and perhaps most importantly, the personal resilience of all our employees and partners has been drawn on like never before and has played a significant role in the group being able to deliver for clients and produce these results during this most challenging of periods.”
The firm, whose office network spans 12 locations in Scotland and one in London, posted pre-tax profits of £15.8 million for 2020-21, up from £12.4m a year earlier.
Turnover grew by 6.2% to nearly £54.6m in the latest period, from about £51.4m previously.
Chief executive Andrew Walker said 2020-21 was an “extraordinary” year.
He added: “Like our clients, we have faced challenges brought about by the pandemic.
“But I am extremely proud of the way our business has gone above and beyond to deliver high quality work, adding value for our clients as they navigate the economic recovery.”
Mr Walker also highlighted JC’s 60 promotions and record intake of 100 students during the year.
“We will continue to invest in learning and development to ensure our people and partners are the best they can be,” he added.
I am extremely proud of the way our business has gone above and beyond.”
Andrew Walker, CEO, Johnston Carmichael.
JC said a range of measures were taken to protect it from economic uncertainties posed by the pandemic.
These included partners reducing their drawings and deferring pay-outs to protect cash flow.
The firm added it had also “reshaped and strengthened” its sector focus in order to “harness its specialist knowledge and offer enhanced support across key markets”.
JC, founded in 1936, has more than 850 staff and partners. Office locations in the north and north-east include Aberdeen, Elgin, Fraserburgh, Huntly, Inverness and Inverurie.
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