Burness Paull profits soar by 39% in spite of pandemic challenges

Burness Paull profits soar by 39% in spite of pandemic challenges

Peter Lawson

Commercial law firm Burness Paull recorded profits of £33.3 million in 2020/21, a staggering rise of 39 per cent on the previous year, in spite of the economic upheaval of the Covid-19 pandemic.

The firm attributed its strong revenue performance to an intense programme of client listening and rapid response during the pandemic, with growth in key sectors including technology, health, renewables and energy transition.

In the year ending 31 July 2021, the firm posted an annual income of £72 million, up 19 per cent on the previous year.

Chairperson Peter Lawson and managing partner Tamar Tammes, who were re-elected earlier this year, have introduced a heightened commitment to conducting and delivering on strategic reviews with clients.

Their new three-year strategic plan will see the firm continue to combine investment in attracting and developing exceptional legal talent with class-leading technology to drive further innovation and efficiency in the way it delivers its services.

Commenting on the firm’s financial results, Mr Lawson said: “Our results have no doubt benefited from the timing of our financial year, as we’ve seen a few more months of the upturn than some other firms.

“However, our performance has been significantly boosted from the prior year by investments in recruitment and people development, innovation and, most importantly, an unwavering commitment to the needs of our clients and their response to shifts in the markets they operate in.

“Our development of sector teams, best-in-class lateral hires and new practice areas have only been possible with that client-based insight.”

He added: “The last year has been extremely challenging for all of our people. The lengths everyone has gone to in order to deliver first-class support to clients while continuing to work remotely has been an outstanding tribute to the high-performing culture we have within the firm.

“That’s why it was important that those efforts were rewarded by an increased bonus structure that is appropriate for such exceptional commitment to serving the best interests of our clients.

“The firm also increased its commitments to The Burness Paull Foundation, allowing it to provide increased support to charitable partners who were very much in need of extra help as a result of the pandemic.”

Burness Paull is now “focused on delivering the next steps in our plan to cement the firm’s shift from steady to efficient growth through targeted expansion into key sectors underpinned by operational efficiency where relevant”, he concluded.

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