Patent company Murgitroyd plans expansion

computer Murgitroyd specialises in registering and protecting intellectual property through patents and trademarks

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Patent company Murgitroyd has announced plans to expand further in Europe, after reporting a rise in profit and turnover.

The Glasgow company's profit before tax for the year to 31 March increased by 10.3% to £4.4m, with turnover up by 7.5% to £35.7m.

The group already runs 14 offices in eight countries, and said it intended to increase its presence in Munich.

Murgitroyd said it was also considering setting up in Paris.

A new unified European Patent Court is to be located in London, Munich and Paris and the company said it would consider "how best to service our clients' needs " in the French city over the coming year.

Murgitroyd specialises in registering and protecting intellectual property through patents and trademarks.

The new European patent system is designed to make it cheaper and simpler for companies.

Ian Murgitroyd, chairman of the group, said: "I am pleased to report that Murgitroyd has continued to deliver an increase in turnover and profitability for the eleventh consecutive year since its flotation in 2001.

"While we remain cautious, due to the uncertain macro-economic environment, we continue to invest in the business and the board remains confident that Murgitroyd can continue on this growth trajectory to deliver value to shareholders."

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