Murgitroyd expands presence in London and Munich

By PETER RANSCOMBE
Published on 03/07/2012 09:42

EXPANSION in London and Germany has helped keep Murgitroyd on track to hit full-year profit forecasts, the Glasgow-based patent attorney firm revealed today.

The Aim-quoted company opened a second office in London during April, this one based in the City, and expanded its presence at Munich, in Germany, into larger premises.

In a brief pre-close trading update, the firm said both “activity levels and business performance for the second half of the financial year have continued at the levels seen in the first half”.

Murgitroyd added: “As a result, the underlying trading result for the full year is anticipated to fully meet market expectations and the board continues to remain confident about the future prospects for the group.”

Analysts have pencilled in profits of £4.1 million, up from £4m in the previous 12 months.

The company is due to published its results for the year to 31 May on 10 September and will hold its annual general meeting at its head office on 25 October.

In March, the firm signalled its intention to expand in the United States by promoting Edward Murgitroyd, son of executive chairman Ian, to the post of deputy chairman. The group added that it has continued to recruit para-legal staff and apprentices to its office network, which includes bases in Finland, France, Ireland and Italy.