Burness Paull’s staff get 10 per cent bonus after rise in revenue

Scottish firm Burness Paull has awarded all its employees a 10 per cent bonus after the firm achieved a 20 per cent increase in its turnover in the 2013/14 financial year.

The firm, which has seen its revenue grow to £46.3m, has said that it will concentrate its business strategy on three sectors – oil and gas, financial services, and property and infrastructure. It also plans to increase its international presence in the next year.

The 10 per cent bonus will be awarded to all eligible employees based across the firm’s three offices in Aberdeen, Edinburgh and Glasgow.

Chairman Philip Rodney said that the firm’s team played an integral role in its annual figures.

“Our excellent annual results, which exceeded all expectations, have been achieved through the hard work, professionalism and commitment of our staff,” he said.

Total net profit at the 56-partner firm rose by around 25 per cent in 2013/14, while average profit per equity partner last year was £445,000 and the top of equity stood at £530,000 (8 August 2014).

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).