Things are looking up for Scottish firms, if this year’s financial results are anything to go by.
Burness Paull, which was formed by the December 2012 merger of Central Belt firm Burness and Aberdeen’s Paull & Williamsons, has just announced a 20 per cent revenue rise for the 2013/14 year, bringing its total to £46.3m.
Net profit was also up, with firm chairman Philip Rodney saying a corresponding increase in international work has helped has helped boost the bottom line after the firm worked in 55 jurisdictions over the course of the year.
Burness Paull is not the only firm north of the border to have had a successful 2013/14. Brodies broke through the £50m barrier with a turnover rise of 13 per cent while Maclay Murray & Spens and Shepherd & Wedderburn both saw turnover jump by 7 per cent.
But here’s a spot of Scottish rain to pour on the financials parade. In some cases the rises have simply taken firms back to pre-recession levels, and the current political climate means the renewed success could be short-lived.
The impending vote on Scottish independence is leading to a lull in deal activity, and this year’s financials could be about to take a hit.
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