Morton Fraser reports steady year in latest results

Morton Fraser has consolidated its recent growth with its results for the year to 30 April 2017, released today. 

While revenues rose by a modest 2.5% to almost £20m and profit was unchanged at £7m, the firm has seen turnover increase by 46% in the last four years and profits by 78%.

According to Morton Fraser, the year has been punctuated by "several positive outcomes" from the Brexit referendum, including a notable increase in corporate and property transactions in Scotland. The firm has seen revenue growth across all areas of the business, particularly commercial real estate, public sector and corporate and financial, as well as in its divorce and family law team.

Staff will receive up to 11% of salary from the firm's performance related bonus scheme.

Chris Harte, chief executive said: “We are building sustainable, long-term success here. From commercial clients looking for an in-built understanding of their sector in Scotland to private clients who trust our discretion and clarity of advice, our success comes from a broad base of services and a consistent way of doing business."

He continued: “We have seen a marked increase in the number of corporate transactions we have been involved in, particularly in the technology and life sciences sectors."

The firm had acted for several overseas investors looking to take advantage of the drop in value of sterling, Mr Harte added, commenting that it had "definitely benefited from our connections to London and our expertise in Scottish real estate and there are more of these deals in the pipeline".