Pinsent Mason’s figures building on McGrigors takeover
INTERNATIONAL law firm Pinsent Masons, which took over Scottish peer McGrigors in May, yesterday posted a rise in turnover despite “difficult” market conditions.
Revenues rose by 4 per cent to £221 million in the year to 30 April, but the firm claimed the total would have hit £295m if McGrigors final months as an independent firm were taken into account.
McGrigors turned over £42.5m in its last seven months before the takeover, which Pinsent Masons said put it on course to beat the previous year’s total of £70m.
David Ryan, Pinsent Masons’ managing partner, said: “Our results show that we are continuing to perform strongly in a difficult market.
“The continued investment in our staff and infrastructure has increased our ability to respond to changing client demand.
“The merger with McGrigors built on this and, as a combined firm, we are in a strong position for growth in the coming years.”
Kirk Murdoch, chairman of Scotland and Northern Ireland for the firm, added: “These pre-merger results reflect a solid performance by both firms.
“That will allow us to develop further our combined services in support of our clients’ objectives especially in our key sectors and jurisdictions.”
Murdoch was senior partner at McGrigors prior to the takeover by its larger rival. McGrigors managing partner Richard Masters became director of client operations at the enlarged firm.
A spokeswoman for Pinsent Masons said that profit figures for the year to 30 April had not yet been finalised.
The combined firm employs more than 2,500 staff, including 1,500 lawyers and some 350 partners and has offices in far-flung locations such as Doha and Dubai in the Middle East.
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