Harper Macleod Posts Another Year of Strong Financial Growth

Leading Scottish commercial law firm Harper Macleod LLP has posted yet another year of strong financial growth, for the year ended March 31st 2008, its 20th anniversary year.

Billings at the firm increased by 16% to ?14.2m for the year, the firm's eighth consecutive year of double digit growth. The firm has also announced plans to expand its Glasgow office, located in the historical Ca'd'oro building, and expand and relocate its Edinburgh office, despite the well reported "credit crunch".

During 2007/08, the firm added to its impressive client list, including Forestry Commission Scotland, Highlands and Islands Enterprise and Inverness College, striking evidence of its increasingly successful performance in competitive tendering. The firm advised on the sales of iconic Scottish shopping centres, Princes Square and the Stirling Thistle Marches and assisted the Tulloch family in the high profile sale of a 40% stake in Tulloch Homes Group to Uberior Ventures (Bank of Scotland).

Corporate Social Responsibility continued to be a high priority. In observance of its 20th anniversary, the firm is supporting an innovative pro bono partnership programme with the Scottish Council for Voluntary Organisations (SCVO), offering member organisations access to free legal advice on selected topics. 2007/08 saw Harper Macleod become the first carbon neutral Scottish law firm and the first Scottish law firm to be accredited Bronze by Healthy Working Lives.

The firm has assumed two new partners in Saria Akhter (Employment) and Fergus Thomson (Insurance and Reparation). Legal Assistants, Heather MacDonald (Litigation), Jill Sinclair (Insurance) and Wilson Paterson (Real Estate) are promoted to Associates. Unusually for a law firm, Harper Macleod has granted partner-equivalent status to a further four non-legal executive staff, including HR Director, Rona McPherson, IT Director, Richard Harvey, Operations Director, Nicola White and Assistant Marketing Director, Claire Kissock, demonstrating the critical roles played by these individuals and functions in the development of the firm.

Chief Executive Martin Darroch commented, "Each year we set ourselves aggressive targets to deliver the growth demanded by our business strategy. And year on year we meet and exceed these ambitious benchmarks. A key feature of last year was the significant retender programme we undertook in relation to some of our most significant and high profile contracts, including the Scottish Government and the Child Support Agency Scotland. In each case we were successful, a testament not only to our written work and presentation skills but also the quality of service delivered to these clients. In fact, our overall tender success rate is currently approaching 1 in 2, bucking the industry average of 1 in 7.

We also continue to develop pioneering products and services to meet changing client needs. HM Property Solutions LLP provides innovative property consulting to meet clients' strategic business needs. It joins HM Corporate Solutions LLP, in offering a seamless approach to legal advice and corporate business advice, property finance and funding. We joined the highly successful Connect2Law, a referral and support network for smaller firms in the region, as the Scottish "hub" firm. This allows us to offer our expertise to smaller firms' clients on a non-poaching basis.

Yet, as a professional services firm, we are ultimately judged on the behaviour and performance of our people. As well as the deserved promotions of our legal staff, creating partner-equivalent positions for non-legal staff acknowledges the importance of their roles and our goal to become an "employer of choice". I am therefore proud we have retained 100% of our trainees this year, that "Best Companies" rated Harper Macleod as "One To Watch" and that we were the only Scottish law firm ranked in "Managing Partners' Forum's 100 Best Professional Firms To Work For."

In summary, with these financial results and expansion plans, the firm has demonstrated once again solid execution of its successful business strategy. We are well positioned in terms of our cost base, clients and contracts to meet the challenges and opportunities of continued growth in the future, despite a difficult market."