International firm Fieldfisher today announced its ninth consecutive year of revenue growth, with a 15% jump in income pushing profit per equity partner above £1m.
Firm-wide revenues were up to £330m in the year ending 30 April 2022, up from £290m in the previous year, supported by a 17% increase across the firm’s UK offices in London, Manchester and Birmingham, as well as its Belfast hub.
Fieldfisher also saw a 28% increase in revenue in its financial markets and products practice, while its corporate and real estate teams posted a 20% jump in revenue and its dispute resolution team continued its growth with a 10% revenue bump. Profit per equity partner was also up to £1.05m, up by 22% from £860,000.
Managing partner Robert Shooter said: ‘Our outstanding performance this year is a result of a collective effort from teams across our international network and is reflective of high activity levels across sectors and practices we operate in.’
He added: ‘Having already built a solid business model and a high-performing international platform, we are now perfectly positioned to embark on the next phase of development focused on ever greater collaboration, integration and growth.’
Meanwhile, London firm Kingsley Napley posted a 17% increase in revenue to post a record £55.2m to the end of April 2022, with profit before tax rising by 7% to £15.5m.
However, profit per equity partner fell by 14% from £390,000 to £335,000 last year, which the firm attributed to investment in fee-earners and support services and its move to a new London office last July.
Managing partner Linda Woolley said: ‘It is pleasing that our revenues and overall profit have improved materially year on year. Other measures reflect that we are in an investment phase in talent and infrastructure to support our growth ambitions.’
She added that she is confident Kingsley Napley will ‘continue on our upward trajectory and see substantial revenue and profit increases in the year ahead’, with the firm targeting revenues of £65-70m in 2022-23.
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