Morton Fraser, one of Scotland’s most prestigious independent law firms, has consolidated its recent growth with a year of increased annual billings, major investment in I.T. and some key hires.
The firm has increased revenues by 2.5 percent year-on-year, and by 46 percent in the last four years, with almost £20m in annual billings for the year to April 2017.
Another strong commercial performance results in a further annual increase to Morton Fraser’s performance-related bonus scheme, which this year will reward all staff with up to 11 percent of their annual salary. Profits have risen by 78 percent over the last four years, once again reaching £7m this year.
Chris Harte, Chief Executive of Morton Fraser LLP, said: “We are building sustainable, long-term success here. From commercial clients looking for an in-built understanding of their sector in Scotland to private clients who trust our discretion and clarity of advice, our success comes from a broad base of services and a consistent way of doing business.”
According to Morton Fraser, the year has been punctuated by several positive outcomes from the Brexit referendum, including a notable increase in corporate and property transactions in Scotland.
Harte added: “We have seen a marked increase in the number of corporate transactions we have been involved in, particularly in the technology and life sciences sectors.
“We have also acted for several overseas investors looking to take advantage of the drop in value of Sterling. This includes acting in the sale of Scotland’s largest sporting estate; Scotland’s largest ever single-asset logistics deal; and the purchase of Heartlands, one of the country’s largest regeneration projects. We have definitely benefited from our connections to London and our expertise in Scottish real estate and there are more of these deals in the pipeline.”
Morton Fraser continues to secure referrals from the City of London and enhanced its banking and asset finance expertise with the appointment of Ross Caldwell from international law firm Taylor Wessing this year.
It also completed a seven-figure investment in I.T. infrastructure, upgrading its practice and case management software.
The firm has seen revenue growth across all areas of the business, with its commercial real estate, public sector and corporate and financial offerings continuing to thrive. Notable success was also recorded in its divorce and family law team, which is renowned for its expertise in international family and child law.