Morton Fraser, the top 10 law firm with a focus on the Scottish market, has unveiled a 20 per cent rise in net profit to £6.6million.
The firm employing 175 in Edinburgh and 95 in Glasgow will be handing out a 9per cent bonus in profit share, after a year which saw turnover rise 8 per cent to £18.3m.
Chief executive Chris Harte said: "The positive figures reflect the firm's strategy and commitment to full transparency and clarity in billing arrangements with clients, which has helped deliver a strong balance sheet."
He said new client wins had helped drive success in its key markets including commercial real estate, private client and public sector.
The law firm promoted 10 new partners, half of whom are female, bringing partner numbers to 45 with a female ratio of almost one third, which the firm says is testament to its support for flexible working.
Mr Harte said: "Alongside driving growth, we're pleased to have ended the year debt-free and with cash in the bank, making us well placed to implement our investment plans over the medium to long term."
He added: "We believe that we can continue to thrive as an independent firm by listening to our clients and delivering the services they need in the way that they want."
Morton Fraser merged in 2013 with Scotland's oldest law firm Macdonalds which added 50 staff and helped push revenues up by 24per cent and profits by 42 per cent.
Clients include Diageo, Royal Mail, Ministry of Defence, Transport Scotland, Tesco, and Scottish Canals.
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