Scottish firm Burness Paull has announced a turnover of £46.3m in the year to 31 July 2014, an increase of 20 per cent on 2012/13.
Total net profit at the 56-partner firm rose by around 25 per cent while average profit per equity partner last year was £445,000 and the top of equity stood at £530,000.
The firm said that the positive figures reflected growth in all divisions of the firm.
Philip Rodney, chairman of Burness Paull, described the financials as “an excellent set of results”.
International work now accounts for more than 20 per cent of Burness Paull’s business while the firm worked in 55 jurisdictions over the last year alongside numerous independent firms as partners.
“Oil and gas, financial services and property and infrastructure are increasingly important sectors for us,” said Rodney. “We aim to have unrivalled firepower in each. 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.”
Matters undertaken by Burness Paull over the last year include being appointed by FTSE 250 company Wood Group to advise on all of its UK employment-related services; acting for BlueGem Capital Partners in its investment into upmarket prams and nursery retailer Mamas & Papas; and on the planning, property and construction aspects of a range of projects that will see over 15,000 new homes built in Aberdeen and Aberdeenshire, including the largest housing permission granted in Scotland over the last year.
Last year Burness Paull awarded a 5 per cent bonus to all its staff after hitting its profit targets following its December merger (13 August 2013).
The firm posted an annualised turnover for 2012/13 of £38.7m, a 3.2 per cent increase compared to the combined results of legacy firms Burness and Paull & Williamson (9 October 2012).