Scottish commercial law firm Burness Paull is planning to expand its Aberdeen workforce and combine its oil and gas and offshore renewables teams to create a “complete energy offering” for clients, its chairman has said.
The plans are part of a three-year growth strategy outlined by Philip Rodney as he announced the firm’s latest annual results, showing what he described as a “steady financial performance in a bumpy year for the Scottish economy.”
Burness Paull currently employs 116 people, including 18 partners, in Aberdeen, where the oil and gas industry is the main focus of its work.
Energy is one of three key sectors in which the company is anticipating increased activity in the coming three years, along with technology and tax.
Mr Rodney said there were “positive signs out of Aberdeen as the oil and gas sector adapts to the ‘new normal.’”
He continued: “I think that there has been an increase in mergers and acquisitions activity in the sector in the last few months. Market consolidation is inevitable.
“There seems to have been an identification that the market had reached the bottom and people are starting to look for things. There is definitely a renewed confidence in Aberdeen.”
Mr Rodney added that the decision to create a single energy team at the firm reflected the cross-overs in technology and skills being employed by companies involved in the oil and gas and offshore renewables sectors.
Unaudited figures released by Burness Paull yesterday showed its turnover in the year to July 31 rose 1% to £53.8million compared to the previous year. The firm’s pre-tax profits fell £500,000 to £22million in the same period.
Mr Rodney said: “We have delivered a steady financial performance in what has been a bumpy year for the Scottish economy. There will undoubtedly be more challenges to come as a result of the political and economic backdrop.
“However there will be opportunities for those who are prepared to be bold and embrace the future.”
The firm, which also has offices in Edinburgh and Glasgow and a workforce of more than 480 people in Scotland, said it had seen an increase in instructions across most sectors during the year.
“The speed of change has never been greater,” Mr Rodney added.
“Our strategy builds on the successful platform that we have created. Growth will come from our agility in developing our service lines to support the changing needs of our clients both here and internationally.”
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