Marking its sixth consecutive year of revenue growth, Ashurst has reported a robust set of financials headlined by a 12% jump in turnover from £711m to £798m.
Profit per equity partner (PEP) was also up by a significant rate, growing 13% from £1.038m to £1.175m. According to the firm, revenue and PEP have grown respectively by 8% and 12% on average each year over the last six years. Continue reading “Globetrotting Ashurst continues frenetic growth with double-digit revenue and profit boosts”
RPC has posted mixed 2021/22 financial results, today (20 July) unveiling a 10% increase in revenue across its London, Bristol, Singapore and Hong Kong offices to £149.4m, albeit with a decline in profits..
Though the revenue figures are impressive, the firm was not able to maintain the level of growth seen in 2021, during which revenue jumped a striking 24% to reach £136m. Overall, revenue has spiked by 36% since 2020. Continue reading “Financials 2021/22: RPC posts mixed results with robust revenues and dipping profits”
Clifford Chance has become the second Magic Circle firm to post encouraging 2021/22 financials, announcing today (19 July) an 8% rise in revenue to £1.969bn.
Partnership profit and profit per equity partner (PEP) were both similarly encouraging. Profit swelled by 9% to £783m, while PEP passed £2m for the first time, reaching £2.04m after a 10% increase. Continue reading “‘Our team has delivered’: Clifford Chance nears £2bn revenue as PEP breaks £2m barrier”
Following on from their impressive performances last year, top 50 national players Shoosmiths and TLT have both unveiled strong 2021/22 financial results, characterised by pacey revenue increases.
At Shoosmiths, revenue jumped 8% from £167.9m to £181.8m, while net profit grew a healthy 9% from £55.4m to £60.7m. Profit per equity partner (PEP) was up by a less eye-catching 3%, from £658,000 to £675,000, however last year’s robust 41% jump in PEP is fresh in the memory. Continue reading “National champions: Surging revenues at Shoosmiths and TLT yield record results”
Allen & Overy (A&O) has set an early Magic Circle benchmark, today unveiling a robust 10% uptick in global revenues from £1.77bn to £1.94bn.
Growth was broadly matched in terms of profit before tax, which was up 9% from £822m to £900m. This translated to a milder 3% jump in profit per equity partner (PEP) from £1.9m to £1.95m, but the figures are cast in a favourable light given significant US investment. Continue reading “‘All options on the table’: US investment pays off as A&O sees double-digit revenue increase”
Herbert Smith Freehills (HSF) has recorded its ninth consecutive year of growth, with across-the-board increases in revenue and profit.
Global turnover saw a respectable 6% uptick from just over £1bn to £1.1bn, while overall profit increased 4% from £366.9m to £381.2m. Profit per equity partner (PEP), rose 6% from £1.099m to £1.163m. Continue reading “Hat-trick heroes: HSF hails international impact for steady financial growth”
Simmons & Simmons today (13 July) unveiled a solid revenue increase of 6% to £465m for the past financial year, combined with an 8% rise in profit to £185m.
Profit per equity partner (PEP) also rose, topping the one £1m mark for the first time. Continue reading “Financials 2021/22: Simmons inches forward with 6% revenue increase”
Knights has failed to build on its encouraging H1 results, today (12 July) unveiling a sedate 2% organic growth in revenues and a 2% dip in underlying profit before tax (PBT).
Factoring in the firm’s buyouts of regional firms Langleys, Mundays and Keebles throughout the year, overall turnover jumped 22% from £103.2m to £125.6m. In a statement, Knights attributed the stuttering organic growth to being ‘held back by Omicron in the typically important fourth quarter’. Continue reading “Financials 2021/22: Slipping profits and muted organic growth overshadow another acquisitive year for Knights”
As financial reporting season enters full swing, Taylor Wessing has become the latest firm to report punchy double-digit growth for 2021/22, with UK revenue surging 25% to £219.3m.
UK profits also increased 32% to £93m while UK profit per equity partner (PEP) has reached a record high, increasing by 27%. The firm did not disclose its PEP figure but such an increase would put PEP firmly in the region of £800,000.
Pinsent Masons unveiled an upbeat set of financial results today (6 July), with revenue climbing 6% from £503.3m to £531.1m and profit per equity partner (PEP) jumping 16% from £636,000 to £739,000.
The results represent a rebound after a couple of muted years: in 2020, the firm saw PEP slide 12% amid sustained internal investment. An increased number of partners were minted that year and the firm also splashed out on legal services businesses Xenia and Xenion to strengthen its New Law credentials.
Continue reading “Pinsents bounces back from Covid with healthy turnover uptick and soaring PEP”
