MURGITROYD Group, the trademark and patent law firm has reported a six per cent increase in third quarter revenue, up six per cent on the same period last year.

The revenue of £11.3 million was ahead of revised internal forecasts for the period. The board also confirmed that the underlying trading result was much improved on the first half.

Investors were cheered by the trading update, with shares up more than five per cent.

Alternative investment market-listed Murgitroyd, posted revenue of £42.2 million last year, growing its US business 20 per cent over this period.

Meanwhile, the number of Scottish filings made to the European Patent Office remained steady in 2016 with 247 application from Scotland, compared with 246 in 2015.

Marks & Clerk said this demonstrated the country’s resilience in a period of economic uncertainty.