Turnover and profits are up at Burness Paull
The law firm Burness Paull has reported strong results for the year ended 31 July, the second of the firm’s three-year strategy that is focused on attracting and developing exceptional legal talent to support clients across an evolving range of business and individual needs.
Annual turnover was up nine per cent to £78.6 million and profit increased seven per cent to £35.7 million, triggering an all-staff bonus that, in addition to performance-related bonuses, will see employees receive an additional payment worth the higher of five per cent of their annual salary or £2,500.
The biggest contributors to revenue were the firm’s long-standing strengths in corporate finance, real estate, banking, funds, dispute resolution and employment. This was supplemented by strong growth in areas such as technology, restructuring and insolvency, tax and public law.
In line with its emphasis on people and talent development, the firm has also made five new partner promotions as it prepares for further growth and recognises individual performance and commitment to client service. These are Edward Hunter (corporate finance), Allana Sweeney (restructuring and insolvency), Sophia Harrison (dispute resolution), Andrew Little (construction and projects) and Kirsty Morley (English real estate).
The five new partners are among 58 promotions – including six directors, 11 senior associates, 17 associates, and 19 senior solicitors – across Burness Paull’s practice areas and offices in Edinburgh, Glasgow and Aberdeen.
The firm’s partner ranks have also been bolstered by the addition of eight lateral hires, including two of Scotland’s leading practitioners as part of a strategic move into family law, during the last financial year. The number of partners at the firm now stands at 86.
Peter Lawson, chair of Burness Paull, said: “This is a strong set of results, particularly in the face of economic headwinds arising from global inflation and the conflict in Ukraine during the second half of our reporting period.
“Our performance is testament to the level of expertise and dedication right across the firm, and we have continued to strengthen the team with a number of well-deserved promotions and lateral hires in key practice areas where we see scope for further growth."