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Financial results 2013/14: Burness Paull posts 20% revenue increase alongside 25% profit rise

Scottish firm Burness Paull is the latest to release its 2013/14 financial results and has today (7 July) announced a hefty 20% turnover increase to £46.3m while profits have risen to £20.7m from £16.5m, constituting a 25% increase.

The firm said the positive figures reflect growth across all divisions while international work now accounts for more than 20% of business.

Chairman Philip Rodney said: ‘This is an excellent set of results and reflects the commitment of an incredibly dynamic and talented team. Oil and gas, financial services and property and infrastructure are increasingly important sectors for us. We aim to have unrivalled firepower in each.’

‘This is a rapidly changing market. We always have to look forwards, working with our clients and anticipating their future requirements. Our clients define our business strategy and service agenda, not us.’

‘At the time of our merger, we aspired to be the best commercial law firm operating in Scotland. Our international ambition now means we want to be the best commercial law firm operating from Scotland.’

With growth that contrasts starkly with the fortunes of the traditionally elite Scottish firms in recent years, the firm was formed in 2012 following the union of Burness in Edinburgh and Glasgow and Aberdeen’s Paull & Williamsons. Last year it recorded a turnover of £38.7m, up 59% on legacy firm Burness’ turnover in 2012 of £24.3m. The firm also rebranded as Burness Paull, dropping the Williamsons part of its post-merger name.

The firm was this year named National/Regional Firm of the Year at the Legal Business Awards in February. Highlight work included advising FTSE 250 company Wood Group on all UK employment related services such as pensions and employment tribunal matters. The firm also invested in lateral hires and last November poached two pensions partners, Martha Quinn and Mark Lindsay, from fellow Scots firm Brodies.