Ashurst global revenue reaches $1.8b
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The news: Global law firm Ashurst has announced a 9% revenue increase from £879 million ($1.7 billion) to £961 million ($1.8 billion) for the year ending 30 April 2024, in line with the UK financial year.
The context: Ashurst's average revenue growth each year for the past eight years has been 8% and is eyeing £1 billion in revenue growth for the year ending 30 April 2025.
In late 2023, global chief executive officer Paul Jenkins said the firm was aiming to get in front of local competitors through focusing on ESG, cybersecurity, the energy transition and corporate M&A.
Ashurst said in a media release that its growth has been driven by a focus on six key areas which accounted for more than 85% of Ashurst's revenue. The areas were: banks, private capital, infrastructure, energy, real estate and technology.
The numbers: Ashurst said operations in the UK, the US, and the Middle East achieved double-digit revenue growth of 13%, 18%, and 17%, respectively. The Asia-Pacific region also performed well, with "a solid year in Australia".
Profit per equity partner increased by 14% to a record £1.3 million, surpassing the previous record of £1.2 million.
What they said: "Pleasingly, we are budgeting to have our first year of revenue above £1 billion in our financial year ending 30 April 2025," Jenkins said.
The source: Ashurst media release
