Burges Salmon hails record financial results as revenue and profits soar

Burges Salmon has reported file monetary outcomes, with a 27% improve in income to £163m, up from final yr’s £128.2m.

Revenue per fairness accomplice (PEP) surged by 42%, rising from £466,000 to £661,000, marking a big turnaround from final yr’s almost 10% dip. In the meantime, internet revenue climbed 46%, from £34.6m to £50.5m.

‘These outcomes display the collective energy and dedication of all of our folks, throughout a yr that has seen the worth of our strategic investments come to fruition’, managing accomplice Roger Bull stated in an announcement.

He added: ‘We’ve seen constructive progress throughout your entire agency, stemming from a deep give attention to our markets, our folks, and, importantly, our shoppers. Our dedication to understanding and assembly our shoppers’ wants has been a driving pressure behind this success.’

The agency credited its efficiency to its sector specialisms and key observe areas. Its core sector teams – constructed atmosphere, power and utilities, monetary providers, infrastructure, non-public wealth, public sector, and transport – achieved a median income progress of 32%. Main the cost had been the constructed atmosphere and power & utilities sectors, which reported spectacular progress charges of 40% and 38%, respectively.

A notable spotlight of the yr was Burges Salmon’s celebration of the five-year anniversary of its Edinburgh workplace launch in Might. Since its opening in 2019, the Edinburgh workplace has almost tripled its accomplice rely, rising from three to eight, as a part of an 80-strong staff. The agency additional enhanced its dispute decision capabilities within the Scottish capital with the rent of Magnus Miller from Davidson Chalmers Stewart in June, marking the primary accomplice in its dispute decision staff in Scotland.

‘Our chosen markets haven’t solely proven resilience however thrived,’ stated Bull. ‘We now have benefited from these constructive market circumstances due to our focused method and sustained funding through the years. Scotland, specifically, stands out as a testomony to our progress technique, the place we’re proud to have celebrated our five-year anniversary in Edinburgh with important natural enlargement and the attraction of remarkable expertise.’

The agency has additionally sustained its progress momentum by strategic lateral hires and natural enlargement. For the reason that launch of its 2021-26 technique, Burges Salmon has appointed 31 new companions and elevated its general headcount by 30%. Amongst this yr’s key appointments is Steven Hull, who joined from Eversheds Sutherland as a accomplice within the pensions and lifelong financial savings staff. Moreover, the agency made 19 promotions in Might, together with 5 new companions: Chris Brown (pensions), Ros Harris (actual property), Tim Williams (tax), Caroline Brown (dispute decision), and Lydia Cullimore (initiatives).

Trying ahead, Bull concluded: ‘We’re excited to construct on this momentum and proceed to progress the agency’s bold technique for progress.’

anna.huntley@legalease.co.uk