McGrigor Donald posts record profits

McGrigor Donald has announced record financial results.

The firm’s annual review, published this week, shows fee income up 23 per cent on last year and an increase in turnover and profitability for the year ending 30 April.

Following the opening of a Belfast office in January, the firm became the first to practise in all three British jurisdictions.

While the London office’s turnover now accounts for 22 per cent of the overall figure, its Glasgow headquarters continues to bring in the highest proportion of the £27.24m total at 53 per cent.

UK managing partner Kirk Murdoch says: “The success of our London office and our opening in Belfast reduce, in relative terms, McGrigor Donald’s dependence on its traditional primary market, the central belt of Scotland. We remain however, fully committed to that home market.”

Further afield, McGrigor Donald intends to develop more “best friends” arrangements to help clients doing business on a global scale. Such a relationship has already been secured in the US with Pepper Hamilton.

Murdoch adds: “We have ended this year as a financially stronger business. We need to build on this success using our resources and most importantly, our people, to meet the challenges that lie ahead.”