Shepherd and Wedderburn revenue tops £55m

Shepherd and Wedderburn managing partner Andrew Blain

Shepherd and Wedderburn, the largest Scottish-headquartered UK law firm, said it achieved record financial results in its 250th year in the year to April 30, 2019.

Revenues for the year totalled £55.7 million, up from £53.5 million in 2017-18, and profits before partner distributions rose to £22.8 million from £22 million.

For the second consecutive year the firm is awarding a 4% firm-wide bonus to all eligible employees.

During the last financial year, the firm won more than 1,200 new clients.

In March 2019, Shepherd and Wedderburn also established an office in Singapore in response to client demand.

“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,” said the firm.

Andrew Blain, managing partner of Shepherd and Wedderburn, 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.

“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.

“We won significant new business in the year from both existing and new clients, who chose Shepherd and Wedderburn for its market-leading expertise in areas such as clean energy, technology, real estate, construction, food and drink, and regulation.

“Although we have yet to see what the outcome of Brexit will be, we remain cautiously optimistic about the year ahead.”