News In Focus
Pinsent Masons reports increased turnover
Pinsent Masons has announced details of its unaudited financial results for the year 2018-19. These show global turnover increased by 7 per cent to £482 million.
The results follow a year in which the firm undertook several initiatives that reinforced its stated commitment to “conducting business in the right way, and for the right reasons.”
In 2018 the firm, which employs 560 partners and staff in Glasgow, Edinburgh and Aberdeen, committed to the lease of 25,000 sq ft of office space in Edinburgh’s Capital Square development, which it expects to occupy next autumn.
Significant mandates completed in the last 12 months included advising on the £1 billion development of 3000 new homes in Winchburgh in a joint venture by Winchburgh Developments Ltd, West Coast Capital and CALA Homes.
Corporate and energy specialists also acted in the £50 million sale of a portfolio of offshore wind farms by Scottish Equity Partners and in Ithaca Energy’s £2 billion acquisition of Chevron’s North Sea oil and gas assets.
In January, Pinsent Masons was named Scotland’s Firm of the Year by the global rankings body Legal 500 UK.
Pinsent Masons chair of Scotland and Northern Ireland, Richard Masters, said: “It has been a successful year for our Scottish offices as we continue to secure mandates from global clients to advise on some of the most complex and valuable corporate deals which take place in Scotland, in addition to advising Scottish-based businesses with international operations.
“In the next 12 months we will seek to consolidate our position as the leading international legal firm and have set down a marker for growth in 2020 and beyond with our commitment to taking up significant office space in Edinburgh’s Exchange District.”