Law firm Burges Salmon has underlined its continuing recruitment of top legal talent in Scotland as it reported a significant leap in profits and turnover during its most recent financial year.
The Bristol-headquartered firm, which launched in Scotland five years ago, increased turnover by 27% to £163 million in the year ended April 30, while profit per equity partner grew by 42% to £661,000.
Burges Salmon said the results came as it continued to increase its headcount in Edinburgh, which now numbers 80 staff, including eight partners and six directors.
The firm, which counts Pandox, Oxygen Conservation, L+R Hotels, abrdn, Drax, ENGIE, Zestec, Cumulus Oncology, LIND and William Grant & Sons among its Scottish-based clients, appointed Magnus Miller as its first dispute resolution partner in Scotland in June. Mr Miller, hailed by the firm as a “seasoned litigator”, joined from Davidson Chalmers Stewart.
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Burges Salmon said the growth seen across the business over the year had been a “direct result” of ongoing investment in clients, people, premises, technology, and innovation, as well as its “responsible business agenda”.
It made progress across multiple sectors and practice areas, with the firm’s two largest sectors – built environment and energy and utilities – seeing growth of 40% and 38%, respectively. Strong performances were also recorded within banking and finance, construction and engineering, dispute resolution, employment, planning and compulsory purchase, pensions and lifetime savings, and projects, which all achieved revenue increases of more than 20%.
Managing partner Roger Bull said: "I am pleased to report strong progress across all financial metrics – namely revenue, PEP (profit per equity partner) and profit - for our firm in the 2023/34 financial year.
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“These results demonstrate the collective strength and dedication of all of our people, during a year that has seen the value of our strategic investments come to fruition.
“We’ve seen positive growth across the entire firm, stemming from a deep focus on our markets, our people, and, importantly, our clients. Our commitment to understanding and meeting our clients' needs has been a driving force behind this success.
“Our chosen markets in which we operate have not only shown resilience but thrived. We have benefitted from these positive market conditions thanks to our targeted approach and sustained investment over the years. Scotland, in particular, stands out as a testament to our growth strategy, where we're proud to have celebrated our five-year anniversary in Edinburgh with significant organic expansion and the attraction of exceptional talent.
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“We take pride in our responsible business agenda, our technology and innovation initiatives, and our investment in our people. These elements are at the core of our firm's ethos and have been instrumental in driving our successful financial performance.
“As we look to the future, we are excited to build on this momentum and continue to progress the firm’s ambitious strategy for growth.”
Burges Salmon said it continued to invest in its people over the period, including a record number of partner promotions and lateral hires. The firm noted that its headcount has grown by 30% since May 2021 to more than 1,100 people across its offices in Bristol, London, and Edinburgh.
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