Ashurst Nears £1 Billion Revenue Mark With Strongest US Growth

Ashurst LLP reported revenue and profits gains last year, even as the deals market faces hurdles.

The firm’s revenue reached £961 million ($1.2 billion) over the fiscal year, which ended in April, a 9% jump from the previous year. Its profits per equity partner rose by 14% to a record £1.3 million ($1.73 million).

The London-headquartered firm is looking to crack the £1 billion revenue mark this year, Ashurst global CEO Paul Jenkins said in a statement.

The firm said it got a boost from its focus on six industries: energy and resources; disputes, investigations and advisory; projects and energy transition; corporate; finance, funds and restructuring; and risk advisory. Together, those industries made up 85% of the firm’s total revenue.

Ashurst saw its strongest revenue growth in the US (18%), followed by the Middle East (17%) and the UK, which saw a 13% increase.

Other UK firms also reported gains over the financial year. Linklaters saw its highest ever revenue and pre-tax profits, according to the firm. Allen & Overy reported a jump from the previous year, head of the firm’s merger with New York firm Shearman & Sterling. Both Magic Circle firms topped Ashurst in revenue and profits.