Upticks across the board
The first round of financial results for the 2023-24 year have been released, with several top City and national law firms putting in positive performances.
Osborne Clarke has seen international revenues climb 19% up to €525 million, with the UK figures showing 11% growth up to £240.5 million. Of this, the outfit recorded an impressive £84.8 million net profit, an increase of 14% since the last results.
Profit per equity partner (PEP) also saw a boost, jumping 11% up to £771,000.
Elsewhere Weightmans has reported its most successful year to date, taking income up 12% to above £140 million, with £18 million net profit, a whopping 41.1% rise on the previous figure. PEP is now sitting at £391,000.
HFW has also reported strong numbers, hitting a turnover of £251 million. Whilst this marked a solid increase of 11% from last year, net profit saw a bigger boost, rising 16.5% to hit £75.4 million. PEP saw a more modest, although still very impressive, boost of 9% up to £855,000.
Kennedys has also reported a record year of growth, clocking a revenue of £384 million, a 17% increase on last year. This marks the 10th year of consecutive growth for the firm.
Whilst the UK wing saw a very impressive 18% growth in revenue, the US offices topped this with 22%.