LAW firm Harper Macleod has said it has increased its share of the Scottish market after it grew turnover 17 per cent in the latest year.
The Glasgow-based firm generated a record £25.7m fee income in the year to 31 March compared with £22.1m in the preceding year.
Profits increased around 14 per cent annually, to £9.1m, from £8m.
Chief executive Martin Darroch said the growth occurred against the backdrop of a flat market indicating the company was winning share from rivals.
He said Harper Macleod had won significant levels of new instructions in the corporate market.
Chairman Lorne Crerar said: “It is particularly satisfying that ‘corporate Scotland’ is increasingly acknowledging that because our pricing is lower than our mainstream competitors it does not mean our service delivery and expertise is in anyway compromised.”
He said Harper Macleod was reaping the rewards for taking the decision two years ago to invest significantly in increasing its presence in Edinburgh.
The company increased partner and staff numbers in the city to 41, from 23 in the latest year, helped by lateral hires.
Harper Macleod grew total staff numbers to 385 at 31 March, from 313 at the end of the preceding year. Partner numbers increased to 72, from 61.
Ten people, including five partners, joined Harper Macleod from McClure Naismith after that firm went into administration in August. The bulk are based in Edinburgh.
The firm also won increased public sector and private client work.
It moved into the Shetland market through the acquisition of Dowle, Smith & Rutherford in September.
Harper Macleod also has offices in Thurso and Inverness.
Mr Darroch said Harper Macleod expects to achieve a seven figure increase in turnover in the current year. It is not targeting a growth rate as high as that achieved last year.
Harper Macleod is not planning to buy any more firms currently but will consider any suitable acquisition opportunities that arise.
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