Burness Paull ‘optimistic’ despite flat profits

Peter Lawson
Peter Lawson: good outcome

Scottish law firm Burness Paull has today posted a below inflation 6% rise in annual turnover to £83.2m (21/22: £78.6m) while profit came in flat at £35.5m (21/22: £35.7m).

The figures for the year to 31 July come against a general slowdown in mergers and acquisition activity and rising interest rates.

The firm said it was seeing benefits from its diversification strategy, with newer and recently strengthened teams across a range of disciplines.

Investment has continued in people, technology and facilities and there were office moves in Glasgow and Aberdeen.

The number of partners at Burness Paull now stands at 89 and total headcount across its three Scottish offices is more than 670. 

Peter Lawson, chair at Burness Paull, said: “This is a positive set of results, which is testament to the hard work of our people and their commitment to ensuring the best possible outcomes for our clients in a complex and changing landscape.

“To increase turnover and largely maintain profitability in the context of a quieter property and M&A market is a good outcome.

“We have very intentionally prioritised long-term reward, retention and sustainable growth as this is key to delivering the evolving breadth of services and specialist expertise our clients are looking for and ensures the future success of the firm.

“Looking ahead, there is little doubt that challenges remain for the business community. However, we are well-placed to help our clients navigate this environment.

“We see opportunities in a range of sectors, not least the growing renewables industry.

“As a firm, we remain optimistic but not complacent in our outlook. The strategy and performance of recent years has put us in a strong position.”

Thorntons opens Highlands office

Thorntons is opening its first office in Inverness, its 14th location and its first in the Highlands.

It is also in the process of appointing a team in the city to include several senior legal figures who are well-established in the local marketplace. 

Lesley Larg, managing partner, said: “These are very exciting times for our firm as we prepare to open our second new office of the year.”

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