Murgitroyd hikes divi on back of £4.1m annual profit

Murgitroyd, Scotland’s only listed firm of patent and trade mark attorneys, said years of investment had put it in a “strong competitive position” as it booked a rise in full-year profits.

Releasing results for the year to the end of May, the group said underlying profit before tax increased by 7 per cent to £4.1 million – a figure the firm had flagged last month.

That was despite revenue dipping to £43.9m from £44.3m. The board is proposing a final dividend of 14.5p per share, giving a total payout for the year of 21p, up from 17p.

Ian Murgitroyd, nonexecutive chairman, said: “I am pleased to report an increase in underlying pretax profit and record yearend cash balances for the period under review.

“Four years of significant investment in our paneuropean footprint, software and business development, as well as back office efficiencies has put us in a strong competitive position to help offset any weakness in individual markets and to remain at the cutting edge.”