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Ashurst equity partners earned almost $2m profit last year
Ashurst equity partners earned almost $2m profit last year Share
BigLaw firm Ashurst has seen the annual profit for its equity partners jump by 15 per cent this year, marking a 72 per cent increase over five years.
Ashurst has reported its financial results for the year ended 30 April 2021, headlined by revenue of £711 million (AU$1.32 billion), which is a 10 per cent increase on the £644 million ($1.19 billion) reported in 2020.
Such figures mean the firm has seen a 40 per cent growth in its revenue in the past five years, with an average annual growth of 7 per cent.
Ashurst announces financial results - marking fifth consecutive year of revenue growth
2021 financial performance highlights
Revenue of £711 million, up 10% on the previous financial year (£644 million in 2020)
40% growth in revenue over a five-year period, with an average annual growth rate of more than 7%
Profit per equity partner of £1,038,000, up 15% on the previous financial year (£903,000 in 2020)
72% growth in profit per equity partner over a five-year period, with an average annual growth rate of more than 11%
Paul Jenkins, Ashurst s Global Managing Partner said, We continued our financial growth trajectory with strong FY21 results, marking the fifth consecutive year of revenue growth for the firm. While some practices and markets during the early part of the financial year were impacted by the pandemic, we continued to support clients as they navigated ongoing challenges and the firm experienced strong trading performance from the end of Q1 which produced a very