Scottish law firm Dundas and Wilson reports £9m profit slump

Dundas and Wilson, one of Scotland's largest law firms, has posted a drop in annual profits of nearly £9m. Profit per equity partner fell from £385,000 in 2007-8 to £308,000 in the year to the end of April. Revenue dropped more than ten per cent to £66 million, Dundas and Wilson has asked staff to consider a 10% pay cut - or face a number of compulsory job cuts.