Law firm Bond Dickinson said yesterday its revenue topped £100million for the first time during the year to April 30, 2015.
The figure came in at £106.4million, up by 7% from £99.6million the year before.
Bond Dickinson said its profits grew by around 20% but did not give any figures.
The firm added its 13-strong team, including five partners, in Aberdeen was a “key component” in its success and the office continued to thrive despite the recent slump in oil prices hitting Europe’s energy capital.
Lawyers at the firm’s Granite City operation advised on numerous high profile deals during 2014/15, including the sale of Summit Petroleum and its subsidiaries – by Japan’s Sumitomo Corporation – to Ithaca Energy for more than £110million on behalf of the
Bond Dickinson’s Aberdeen team was also involved in the divestment of LAPS (Exploration and Production)by Noble Energy to Hansa Hydrocarbons.
Other projects included Endeavour Energy UK’s decommissioning of the Renee, Rubie, Ivanhoe, Rob Roy and Hamish fields in the North Sea, the disposal by Tullow Oil of its interests in the Schooner and Ketch fields to Aberdeen-based Faroe Petroleum and the acquisition of Central North Sea Fibre Telecommunications and related assets from BP by Norwegian firm Tampnet.
Richard Cockburn, Aberdeen-based partner at the firm, said: “It’s been another busy year for Bond Dickinson in Aberdeen, notwithstanding the lower oil price.
“We’re seeing a change in the nature of the oil and gas work that we’re doing – more decommissioning, more disputes, more contract reviews, more focused M&A (mergers and acquisitions) transactions – but the volume of work remains very healthy.
“The fact that we act for a range of players in the oil and gas marketplace, ranging from supermajors to independents and a spectrum of contractors, nationally and internationally, allows us to see that sentiment is certainly cautious but that strategically important transactions are still happening.
“On the real estate side, we are getting a steady flow of local instructions whilst providing support for the firm’s extensive portfolio of clients nationwide.”
He added: “We are confident that the next year will see us continue to grow by focusing on what matters most to our clients and providing in-depth expertise and outstanding service.”
Bond Dickinson said its latest figures capped a strong year for the firm UK-wide after high profile panel wins and retentions for clients including Sainsbury’s, AIG UK and the Crown Estate.