Shepherd and Wedderburn banks gains

Managing partner Andrew Blain is cautiously optimistic about the year ahead. Picture: Mike Wilkinson

Revenues at the Edinburgh-headquartered law firm reached £55.7 million in the 12 months to 30 April, up from £53.5m in the previous year.

The legal practice hailed sustained investment in its people and technology, along with high levels of client activity, as a key growth driver.

Profits before partner distributions increased from £22m to £22.8m in the period.

Shepherd and Wedderburn announced a 4 per cent firm-wide bonus for the second year running, adding that all divisions delivered year-on-year growth.

Notable deals included acting for Edinburgh-based fintech Nucleus Financial Group during its £140m flotation on London’s junior alternative investment market.

The practice also cited the launch of its Singapore office in March as among the year’s key highlights.

Andrew Blain, who was elected managing partner during the financial year, said: “We are pleased to report a second consecutive year of record financial performance, which is the result of sustained investment in client services and strong client activity, both here and overseas, despite the ongoing uncertainty around Brexit.

“All divisions were busy and reported growth in 2018-19. Although we have yet to see what the outcome of Brexit will be, we remain cautiously optimistic about the year ahead.”