Rising profits at Scottish law firm Burness Paull trigger bonus for all staff

SCOTTISH law firm Burness Paull yesterday announced a 7% rise in profits to £35.7million, which it said had triggered a bonus for all staff.

Revenue for the year to 31 July, at £78.6m, was up 9% on the previous 12 months.

Burness Paull said the all-staff bonus would see employees, on top of performance-related bonuses, receive a payment worth more than 5% of their annual salary or £2,500.

The firm flagged as the biggest revenue contributor what it described as its “longstanding strengths in corporate finance, real estate, banking, funds, dispute resolution and employment” .

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Burness Paull added: “This has been complemented by strong growth in areas such as technology, restructuring and insolvency, tax and public law.”

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Peter Lawson, who chairs Burness Paull, said: “This is a solid set of results, particularly in the face of the economic headwinds resulting from global inflation and the conflict in Ukraine during the second half of our reference period.

“It’s a challenging environment for the entire business community and our investment in talent relies on our ability to add value where it matters most. Technology, ESG (environmental, social and governance), financial regulation, immigration and public law are all examples where the regulatory and risk burden for our clients is increasing, and where we provide increased levels some advices. »

The law firm employs around 600 people, including 86 partners, in its offices in Edinburgh, Glasgow and Aberdeen.

Mr. Lawson said, “Attracting, developing and retaining the right people is key to our ability to serve our customers. We want to make sure that our employees are well compensated for the work they do, which is why the bonus for all staff is important. »

He added, “Our strategy and results over the past few years place the business in a position of strength, and we look forward with optimism and determination to help our clients navigate the changing economic and business landscape.

Burness Paull reported on his roles advising Incremental Group on its acquisition by Telefónica Tech in a deal worth up to £175m, and acting for STV on the broadcaster’s divestment of its external lottery management business, which operates the Scottish Children’s Lottery.