Herbert Smith Freehills (HSF) chief executive Mark Rigotti says the days of focusing on revenue growth ‘are gone’ after the firm revealed today (4 July) less than one percent turnover growth for 2017/18 against a 12% increase in profit per equity partner (PEP).
Revenue at HSF during what it described as a period of encouraging growth was £926.8m, barely up on last year’s £920.5m. HSF’s profits, meanwhile, rose 8% to £277.2m and PEP was up from £760,000 to £852,000. The firm’s financial figures are not currency-adjusted but foreign exchange impacts were described as marginal.
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