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Monday, September 26, 2022
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Ashurst announces sixth consecutive year of significant growth

Ashurst today announces strong results for the financial year ended 30 April 2022, with evenue of £798 million, up 12% on the previous financial year and Profit per Equity Partner (PEP) of £1,175,000, up 13% on the previous financial year

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The firm´s 2022 financial performance highlights are as follows

  • Revenue of £798 million, up 12% on the previous financial year (£711 million in 2021) and year on year growth across every division
  • Profit per equity partner of £1,175,000, up 13% on the previous financial year (£1,038,000 in 2021)
  • Strong performance in all regions, and in particular the UK, Australia and Continental Europe
  • Revenue and profit per equity partner have grown respectively by over 8% and 12% on average each year over the last six years.

I am delighted to report Ashurst’s financial results which marks our sixth consecutive year of significant revenue growth, and our strongest financial performance to date,” Paul Jenkins, Ashurst’s Global Chief Executive Officer said. “We have now seen revenue grow over 8% on average each year over the last six years. I’d like to highlight in particular the commitment of our people in delivering successful outcomes for our clients through what has been another challenging year in many of our offices.”

Paul Jenkins added that the impressive growth and performance of the firm was a result of Ashurst’s relentless pursuit of its 2023 strategy, as well as the firm’s ability to respond collaboratively across offices and practices – working closely with clients in an environment of economic and geopolitical change.

“A sharp focus on our strategy, priorities and goals in key areas of existing and emerging client demand has been core to delivering our FY22 results and ensuring consistent and sustainable growth. Over 85% of the firm’s work is now done in our five key industry sectors – Banks & Private Capital, Real Estate, Infrastructure, Energy & Resources and the Digital Economy.”

We have navigated as a firm through the immediate challenges of the pandemic. We are now seeing a new geopolitical and economic environment emerge – with rising inflation and interest rates, supply chain challenges, and an increasing focus on energy transition,” Paul Jenkins said. “Ashurst has seen heightened activity in areas such as regulatory advice, corporate transactions, finance, disputes and digital transformation. At the same time, demand has risen for our NewLaw and legal-led consulting businesses, with revenue growing by over 75% and 190% respectively, as our clients expect a more holistic approach to the delivery of legal services.”

Global Chair, Karen Davies, said the firm’s financial results show a commitment to continuously improving the client experience at Ashurst. “Our robust results reflect the hard work and commitment of our global teams. Together with our clients, we have delivered outstanding outcomes, advising on their most strategically important and significant mandates.

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