Putting clients first pays off for law firm

Scottish commercial law firm Burness Paull credited a strong performance in key sectors for a near40% jump in annual profits.

And hailing a successful year to July 31 2021, it said an “intense programme of client listening and rapid response” during the pandemic led to a 19% increase in revenue.

Profits before partner distributions and revenue rocketed to £33.3 million, up by 39%, and £72m respectively.

Burness Paull – created through the 2012 merger of Aberdeen-based Paull & Williamsons and larger central belt rival Burness – is one of Scotland’s largest law firms. It employs more than 550 people, including 76 partners, across its key locations of Aberdeen, Edinburgh and Glasgow.

The firm said success during the past year was underpinned by strong performances by its corporate finance, banking and funds, litigation and employment teams, as well as growth in key sectors such as technology, health, renewables and energy transition.

Chairman Peter Lawson said: “Our commitment to building deeper client relationships was under way prior to the pandemic and we took the decision at the outset of lockdown to accelerate that support.

Our employment team, in particular, were trailblazers in offering early-stage guidance and direction for what was an incredibly troubling set of circumstances for the client community.”

Mr Lawson added: “Our results have no doubt benefited from the timing of our financial year, as we’ve seen a few more months of the upturn than some other firms.

“However, our performance has been significantly boosted from the prior year by investments in recruitment and people development, innovation and, most importantly, an unwavering commitment to the needs of our clients and their response to shifts in the markets they operate in.”

The firm’s deal-making activity saw a dip last year, Mr Lawson said, but he added: “The market has bounced back very strongly and our exceptional expertise in M&A (mergers and acquisitions) and private equity across the UK and internationally has seen our teams involved in some incredibly high-profile deals, particularly in the technology sector.

“We have also seen an uptick in green energy projects and ESG (environmental, social, and governance) investments,” added Mr Lawson.

UPBEAT: Peter Lawson has hailed firm’s ‘trailblazers’.