News In Focus
Shepherd & Wedderburn results continue to move ahead
Shepherd & Wedderburn achieved record financial results in its 250th year, the Scottish-headquartered UK legal firm announced today.
Revenue rose 4% from £53.5m to £55.7m, and profits before p[artner distributions by 3.6% from £22m to £22.8m, in the year to 30 April 2019.
The firm said that sustained investment in people and technology, and a high level of client activity despite ongoing Brexit uncertainty, had seen all its divisions deliver year-on-year growth.
In March 2019, Shepherd & Wedderburn also established an office in Singapore to support its regulatory practice along with its work for the telecoms, energy and utilities sectors. "Work for international clients has made a significant contribution to the firm’s growth in recent years, with our lawyers supporting clients in more than 120 jurisdictions outside the UK", the firm said.
For the second consecutive year Shepherd & Wedderburn is awarding a 4% firm-wide bonus to all eligible employees, which managing partner Andrew Blain said reflected the business’s "heartfelt thanks to colleagues for their efforts in delivering another record year".
Mr Blain, who took over as managing partner on 1 May this year, commented: "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. We have continued to listen to our clients and respond to their needs, which has included working in partnership with a number of them on the in-house development of pathfinder technology solutions."
He added: "Although we have yet to see what the outcome of Brexit will be, we remain cautiously optimistic about the year ahead."