Ashurst’s equity profit bounces back to £1m per partner
London-based law firm Ashurst has seen their equity per partner profit total to more than £1m in the previous 12 months from April 30.
After five consecutive years of revenue growth the company has seen a 15 per cent growth in their partner profit over the year. Revenue for the company was also up 10per cent on the previous financial year to £711m from £644m in 2020 and the size of year-end bonuses doubled.
Ashurst’s global managing partner Paul Jenkins said, “while some practices and markets during the early part of the financial year were impacted by the pandemic, we continued to support clients as they navigated ongoing challenges and the firm experienced strong trading performance from the end of Q1 which produced a very good set of full year results.
A consistent focus on our strategy and goals over the last five years, together with longer term planning, has allowed us to successfully achieve sustainable revenue and profit growth.”
The global business demonstrated a strong performance in Corporate in the UK, Germany, and Australia which helped to reshape mergers and acquisitions post-pandemic.
Jenkins states that the strength of Ashurst in the future was reflected in the continued expansion of expertise and the new appointment of 26 lateral partners across the continents.
Jenkins suggests that investing into the business and evaluating strategies was a major factor in transforming the companies profits and market position.
Karen Davies, global chair elect, said, “the hard work of our global teams has delivered impressive results for the business and we have supported clients on their most high profile and business critical matters. There are some significant opportunities for our firm in the year ahead.”
Ashurst hopes to reinforce commitment from the business for the next financial years results.