Scotland business

Morton Fraser links revenue rise to Brexit referendum

Morton Fraser office, Edinburgh Image copyright Morton Fraser
Image caption Morton Fraser runs offices in Edinburgh and Glasgow and employs more than 270 people

Scottish law firm Morton Fraser has linked a rise in annual revenues to the Brexit referendum.

The company said "Brexit positives" had led to "a notable increase" in corporate and property transactions.

It also benefited from overseas investors looking to take advantage of the drop in value of sterling.

The law firm reported that revenues rose by 2.5% to almost £20m in the year to April, while profits once again reached £7m.

It said there had been revenue growth across all areas of the business, with its commercial real estate, public sector and corporate and financial offerings "continuing to thrive".

'Positive outcomes'

In a statement, the company said the year had been "punctuated by several positive outcomes from the Brexit referendum, including a notable increase in corporate and property transactions in Scotland".

Chief executive Chris Harte said: "We have seen a marked increase in the number of corporate transactions we have been involved in, particularly in the technology and life sciences sectors.

"We have also acted for several overseas investors looking to take advantage of the drop in value of sterling.

"This includes acting in the sale of Scotland's largest sporting estate; Scotland's largest ever single-asset logistics deal; and the purchase of Heartlands, one of the country's largest regeneration projects."

Morton Fraser runs offices in Edinburgh and Glasgow and employs more than 270 people.

Clients include the Scottish government, Diageo, Royal Mail Group, Transport Scotland, Tesco and Scottish Canals.

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