Scottish firm Burness has awarded a 5 per cent discretionary bonus to all employees following its improved financial performance in 2009-10.
The decision comes after the firm posted an 8 per cent rise in turnover for the year to 31 July, bringing in £21.2m in fees. Net profit increased by 40 per cent to £7.95m during the same period, while profit per equity partner (PEP) went from £180,000 to £305,000.
Burness chairman Philip Rodney said: “Against a background of challenging market conditions in which most of our competitors have seen their turnover drop and some their profitability stall or slip back, we are very pleased with our performance.
“Without the commitment and enthusiasm of our team during these challenging times, it would not have been possible to achieve these results. The discretionary bonus is our way of thanking everyone at the firm for their individual contribution.”
The bonus will be paid to all 154 of the firm’s staff.