SCOTTISH patents agency Murgitroyd Group has reported a 16.4 per cent rise in annual pre-tax profits to £4.16 million on the back of a 7.5% increase in revenue to £48m.

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Murgitroyd chairman Ian Murgitroyd highlighted the fact that the rises had been achieved against a backdrop of economic and political uncertainty. He also flagged the group’s presence in 10 countries.

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And he declared that the Chapman IP business acquired by Murgitroyd had been “integrated successfully”.

Mr Murgitroyd said: “Despite continuing macroeconomic and political uncertainties, the group’s European and international presence, with 18 offices in 10 countries, puts us in a strong position to balance out any weaknesses in individual markets and to support our clients worldwide.”

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Murgitroyd proposed a final dividend of 15p per share for the financial year to May 31. This makes a total of 22p, up by 4.8% on the pay-out for the preceding 12 months.