The firm saw global revenue pass the EUR560 million mark fuelled by growth across all markets, including 8.6% in the UK.
We are delighted to announce our 2023/24 financial results, achieving continued success with a 9.5% increase on 2022/23 figures, taking global revenue to a new record high of GBP480.7 million (EUR562 million+).
The UK also continued its growth trajectory with an increase in revenue of 8.6% to a record GBP246.6 million. Profit at GBP91.7 million is 12.2% higher than last year and the second highest on record. PEP has grown by 13.2%. The UK 8.6% revenue growth for the 2023/24 financial year means that our UK business has grown 57% (56.97%) over 5 years since the 2019/20 financial year.
UK Managing Partner and Global Co-Chair Shane Gleghorn commented: "We are pleased to see strong growth across our offices, especially the progress in the UK and major European markets. That growth has been based on our position as a legal powerhouse in our core sectors of TMC, Life Sciences and Healthcare, Real Estate, Infrastructure and Energy, and Private Wealth, and our key practice areas. It has taken incredible hard work and focus by our people to secure this strong outcome and they are committed to achieving our ambitious objectives in the next three years."
We have committed to an ambitious international growth strategy with the goal of becoming a leading global law firm of choice in its core sectors with EUR1 billion revenue firm by 2028/29 financial year.
Recent strategic investments include:
- 26 laterally hired partners across the world since the beginning of 2023, with a particular focus on our core strategic practice groups; Corporate, Disputes and Investigations, as well as Patents and Innovations.
- New service lines in Dublin (IP, Disputes & Investigations, Tax) and Dubai (IP, Disputes and Investigations).
- Bolstering Corporate/M&A capability in Benelux.
- Development of LitiumTW, the firm's bespoke gen-AI tool.
- Upgrading of premises in several key locations including London, Dublin, Amsterdam and San Francisco.
The firm's strategic alliance with ECIJA, established in March 2023, has extended its reach to encompass Iberia and Latin America and goes from strength to strength.
