Shepherd & Wedderburn figures boosted by Tods Murray deal

Law firm Shepherd & Wedderburn, which acquired the business of the collapsed Tods Murray practice last October, has enjoyed its best financial year according to results just released.

Revenue in the year to 30 April 2015 was up 26% from £38.3m to £48m, while pre-tax profits rose by a similar percentage from £14.3m to £18m.

Real estate and infrastructure, corporate, and financial services were all strong performers, while the Tods Murray deal brought the firm an additional 3,500 clients.

Chief executive Stephen Gibb said that almost all of Tods Murray's clients had remained with the firm. He added that Shepherd & Wedderburn had managed to save around 100 jobs of Tods Murray employees, but had still had to make 60 people redundant. 

Commenting on the wider market, he believed there was a "flight to quality" with clients looking for the best expertise, and the firm had benefited. It had also been raising its profile in its key sectors "by making people more aware of what we can do".