Pinsent Masons and Brodies hail revenue increases

Energy Voice

Two law firms with operations in Aberdeen, Scotland managed to grow their revenues in 2015/16, they revealed today.

Pinsent Masons recorded global turnover of £382.3million in the year to April 30, 2016, up 5.5% on the previous 12 months.

The firm’s profits per partner increased by 2.3% to £550,000.

Pinsent Masons has more than 400 partners.

The business, which employs 60 people in Aberdeen, 10 of whom are partners, was behind some of the largest corporate deals completed in the last year in Scotland.

It acted on Total’s £585million disposal of the St Fergus gas terminal and North Sea infrastructure and was appointed to advise on the £410m Aberdeen Harbour extension and the Aberdeen city bypass project.

Work in the energy sector accounted for about 12% of Pinsent Masons’ global turnover.

Scotland and Northern Ireland chairman, Kirk Murdoch, said: “We have had a very positive year as a result of three things: a genuine commitment to sector specialism to complement our legal expertise, internationalisation of our business to support our clients in growth markets, and innovation. The latter is particularly important in Aberdeen in the current climate where businesses want efficiency as well as excellence from their advisers.”

Revenues at Brodies grew by 12.4% to £65.1million during the same period, while profits before partner distributions grew 14.2% to £30.9million.

Over the 12 months, the number of partners at Brodies rose to 91 from 82 and the number of other lawyers and professional advisers to 303 from 290.