Law company hails Scottish activity

Global law firm Pinsent Masons says its Scottish offices are in “robust health” after reporting progress in its latest financial year.

The business, which has 540 staff in Glasgow, Edinburgh and Aberdeen, unveiled a 6 per cent year-on-year increase in turnover to £449.8 million.

Fees billed rose by 10 per cent and in the last five years turnover has increased by more than 40 per cent while prof- it growth has risen by 60 per cent, the business added.

It said the results follow a period of prolonged investment in its platform and people, with seven lawyers out of 12 globally promoted to legal director based in Glasgow and Edinburgh, for example.

The firm was also appointed global strategic partner to the fintech sector enabler Fintech Scotland and as legal mentors to the Oil & Gas Technology Centre’s Techx Pioneer accelerator and incubator programme in Aberdeen.

It advised on the likes of Shell’s $3.8 billion (£2.9bn) sale of North Sea assets to Chrysaor, Springfield Property’s £387m IPO and the £25.5m Aim listing of fintech Beeks Financial Cloud Group.

Richard Masters, the firm’s chair of Scotland and Northern Ireland, said such milestones show that its Scottish offices are in “robust health”. Continued investment “will help us maintain our leading position in the Scottish and international market place”, he added.