Morton Fraser announced a 10 per cent bonus for all staff as the law firm reported a 7 per cent increase in annual turnover to £19.37 million.
Operating profit was up from the previous year’s £6.2 million but the company could not confirm the final figure.
Revenue was up in all areas but banking and finance, real estate and corporate were particularly strong, Morton said.
Chris Harte, chief executive, said the firm had also won growing amounts of Scottish-based referral work from firms in London. He pointed to “strong fundamentals” in the property market for occupiers, developers, housebuilders and investors.
In banking, asset finance specialists were busy and there are several growth capital deals and some restructuring work. The corporate practice also saw steady deal flow.
Mr Harte said: “We have taken some encouragement as there have been some deals that didn’t complete pre- Brexit but completed post-Brexit. It is a reminder that life goes on.”
Morton Fraser highlighted its public sector team as it won a number of mandates from inclusion in the Scottish government’s expanded legal services frameworks. Lynda Towers, formerly the solicitor to the Scottish parliament, joined the firm in June.
The firm, which has offices in Edinburgh and Glasgow, expects turnover to increase to more than £20 million this year.
Mr Harte acknowledged the firm was reassessing forecasts after the Brexit vote but said he was confident about continued growth.
He pointed to net cash of £1.6 million that offered flexibility.
“The balance sheet means we have a choice rather than feeling that there is a gun to our head to move down a certain path.
“We see our medium-term future as being a strong regional player in Scotland, albeit we do work across the UK in certain areas. Some of our peer firms have decided their future was to be part of a national [UK] or international firm and I wouldn’t criticise that for a second.”
Morton Fraser clients include Diageo, Royal Mail Group, the Ministry of Defence, the Scottish government and Tesco. The firm, one of the largest mid-tier players in Scotland, employs around 270 staff.