Bonus for Shepherd and Wedderburn staff
Law practice Shepherd and Wedderburn has rewarded staff with a 5% top-up bonus after reporting a rise in turnover.
The payment is in addition to the firm’s performance-related bonus scheme.
Income was up 5% to £62.2 million in the year to 30 April 2022. Net profits before partner distributions grew 3% to £26m.
Last year was the first of the Edinburgh-headquartered firm’s revised three-year strategic plan which focuses on driving growth primarily in core strength areas such as technology and clean energy, where client activity has been particularly strong over the last 12 months.
Current clean energy mandates include work in relation to English Round 4, ScotWind, INTOG and Celtic Sea.
Notable activity this year included acting for TVSquared in its $160 million sale to US-based Innovid, advising Scottish Sea Farms in its £164 million purchase of the UK fish farming interests of Grieg Seafood ASA, and acting for Miller Homes in relation to the Scottish property and planning aspects of its acquisition by Apollo Global Management.
The past year has seen the firm relocate its Aberdeen office with capacity to double headcount in the region, and it is moving its head office to M&G’s Haymarket development.
Andrew Blain, managing partner, said: “I am pleased to announce another set of strong financial results. Last year was the first year of our revised three-year strategy and I am delighted with the progress we have made.
“We have achieved the targets we set ourselves for the first 12 months and made a number of strategic investments in people and premises. We go into 2022/2023 with a strong and growing platform to support clients and deliver on our 2024 strategy.
“I would like to thank colleagues for their ongoing focus on quality and service, and our clients for continuing to put their trust in us. We look forward to working with them to achieve even more in the year ahead.”