International firm Taylor Wessing has recorded a bumper 32% increase in profit before tax and a 25% jump in UK revenue.

The firm posted profits of £93m in the year to 30 April 2022 off the back of £219.3m in revenue, with its global figure also increasing by 13% from £371.3m to £420.6m. It is the firm's fourth consecutive year of record revenues.

Profit per equity partner also increased by 27% and, for a second year, staff across the firm will receive a 5% profit share based on salaries in addition to annual performance bonuses of up to 30%.

Shane Gleghorn, Taylor Wessing’s UK managing partner, said: ‘It was a year of outstanding performance and commitment by our people. They worked tremendously hard and were unwavering in achieving our goals. Our initial investments played through in the final year of our three-year strategy, which is pleasing. There was strong performance across all of our teams.’

He added that the firm’s ‘core sector strengths of technology and life sciences and healthcare ‘underpinned the results and we saw significant growth in the real estate and private wealth sectors’.

Gleghorn also said Taylor Wessing’s positive performance in key sectors ‘has been coupled with investment into, and focus upon, our client relationships, which has significantly grown profitable revenue’. ‘We are now moving into the next phase of our strategy and will continue to invest in our people and technology to deliver exceptional client service,’ he said.

Earlier this year, Taylor Wessing increased newly-qualified pay by 17% to £95,000 in London ahead of its annual salary review.