Morton Fraser profits jump

Client wins and the merger with Macdonalds helped legal firm Morton Fraser grow profits by more than 40 per cent in the last financial year.

The firm, which swallowed Glasgow-based Macdonalds in February 2013, hailed new business in the banking, commercial real estate and public sector.

It said revenues increased by 24 per cent to £16.9 million in the year to 30 April. Net profit was up 42 per cent to £5.5m.

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Chief executive Chris Harte said: “We have made good headway into new business streams across all of our key sectors.

“It’s an interesting market we’re now operating in and we’re confident that a competitive and dynamic Scottish firm can continue to benefit from the changes in our market.

“As well as a number of client wins, we recently attracted significant hires to our private client team, and our real estate and planning practices.

“Alongside driving growth, we’re pleased to have ended the year debt-free, making us well placed to implement our investment plans over the medium to long term.”