Shepherd and Wedderburn ups revenues by 6%
Shepherd and Wedderburn has posted a 6% increase in turnover for the 2010-11 financial year alongside a 16% growth in profits. The firm saw revenues rise to £37.3m, citing strong performances in key practice areas such as real estate and energy. The firm's corporate finance team was involved in more than 50 deals over the year with an aggregate value in excess of £8bn.
June 20, 2011 at 07:38 AM
2 minute read
Shepherd and Wedderburn has posted a 6% increase in turnover for the 2010-11 financial year alongside a 16% growth in profits.
The firm saw revenues rise to £37.3m, citing strong performances in key practice areas such as real estate and energy. The firm's corporate finance team was involved in more than 50 deals over the year with an aggregate value in excess of £8bn.
The rebound, which has seen profits grow 16% from £11.3m to £13.1m, comes after the firm saw revenues drop to £35.3m in 2009-10 from a pre-downturn figure of £42.6m in 2007-08.
Chief executive Patrick Andrews (pictured) commented: "We are pleased with these the results in what remains a challenging market. While we remain committed to consolidating our position at the top of the Scottish market, we are also continuing to grow our UK and international practice.
"Overseas business has significantly risen in the past year with our people doing work in a range of global markets including India, the US, and Africa."
The news comes after the firm saw former Aberdeen head Richard Cockburn exit the firm to join Scots rival Maclay Murray & Spens earlier this year.
The vast majority of UK firms to have reported 2010-11 financials to date have posted positive results, with standout performers including Mishcon de Reya and Berwin Leighton Paisner.
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