Dundas staff reap £1m in bonus payments after record year

Scots giant Dundas & Wilson is to gift staff over £1m in bonus payments after reporting double-digit growth in turnover in the last financial year.

The firm announced a record turnover of £44m for the financial year ended 30 April 2005, an increase of over 10 per cent on 2003-2004.

Dundas also posted record profits, which rose from £14.7m to more than £16.8m, capping nine years of unbroken profit growth. Average profit per equity partner jumped to more than £256,000.

The results will enable Dundas to distribute more than £1m in bonus payments to its staff in recognition.

Outgoing Dundas managing partner Chris Campbell said the figures were the result of implementing a consistent strategy, supported by sustained investment and a commitment to continuous improvement.

"We have seen an increased level of activity in all of our three offices, which is largely down to the strong relationships we have built with our clients across the UK," added Campbell.

In the last year the firm has advised on deals with a combined value of over £7bn, such as National Grid Transco's £3.2bn sale of its gas distribution network to Scottish & Southern Energy.