Law firm profits and revenues rise in early 2024/25 results

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Two international law firms have reported increased profits, and several other firms saw revenues rise as the 2024/25 financial reporting season begins.

International law firm DAC Beachcroft posted provisional unaudited results, showing a 7.1% rise in profit before tax to £76 million for the year ending 30 April 2025, with turnover up 6.4% to £348.1 million. Profit per equity partner (PEP) exceeded £750,000 for the first time.

Partner and head of insurance Helen Faulkner, who’ll take over as managing partner in November, said: “DACB is in an incredibly strong position, and we are investing to support growth, remain competitive and futureproof our business. We are modernising our processes and systems, introducing further AI tools and using technology strategically.”

Meanwhile, Taylor Wessing reported a 12.3% increase in UK profits to £103 million, with UK revenue up by 15% to £283.7 million. The firm’s global revenue rose by 10.1% to a record £526.2 million, and PEP increased by 21% to £1.1 million. In addition, the global law firm reported a global revenue of £537 million, marking more than 10% growth year on year. Since 2020, UK revenue has grown by 80%.

Speaking on the results, UK managing partner and global co-chair Shane Gleghorn said: “We are delighted to see strong growth across our business, as the strategy that we implemented is proving effective. Our ongoing focus on premium, high-profile transactions, complex disputes and critical regulatory work in our core sectors is paying dividends.”

Other law firms have also reported strong revenue figures. Ashurst LLP’s revenue exceeded £1 billion for the first time in its history, reflecting an 8% increase on the previous year. The firm’s PEP held steady at almost £1.4 million, consistent with a decade-long average growth rate of 10%. Elsewhere, HFW reported an 8% rise in revenue, reaching £270 million. While the firm’s PEP fell 3%, revenue per lawyer increased by 12% to £465,000.

International law firm Bird & Bird recorded its 33rd consecutive year of growth, with revenue up by 6% to £584 million and net profit rising by 3%. Plus, Gateley Legal announced a 4% increase in revenue to £180 million and a 1.2% rise in underlying profit before tax to £23.3 million.

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