Scotland business

Legal firm Burness Paull reports profit fall

Philip Rodney
Image caption The firm's chairman said the EU decision has been felt widely

Burness Paull, one of Scotland's leading legal firms, has reported a fall in profit as a result of the Brexit referendum vote.

The Edinburgh-based partnership had revenue of £53.3m in the year to July, up 4% on the previous year.

Profits slipped by 3% to £22.6m, a figure which represents a 40% profit margin.

It is claimed this resulted from "a significant pause in activity and client instructions".

Philip Rodney, the chairman of the legal partnership, said: "The anticipation of, and the changed circumstances brought about by the outcome of the EU referendum, inevitably impacted adversely on the last couple of months' trading and are reflected in our results.

"The decision to leave the EU has been felt widely, as can be seen from organisations reporting across all sectors of the UK business community.

"While there will continue to be uncertainties, we are beginning to experience nearer normal market conditions as we work with our clients to support them in these changed circumstances."

Burness Paull employs 500 people at offices in Edinburgh, Glasgow and Aberdeen, of whom 59 are partners.

It specialises in property and infrastructure, as well as corporate deal-making, particularly in finance and oil and gas.

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