City firm Travers Smith has become the latest commercial practice to report flatlining financial results in 2022-23. Provisional figures for the year to 30 June show profit per equity partner at £1.1 million - the same as last year's figure. Turnover grew by just 1% to £197.5m. 

No overall profit figure was announced. 

Commenting on the results, managing partner Edmund Reed said: 'In a year of market disruption our results reflect the resilience that underpins our business. We continue to focus firmly on our clients who come to us for exceptional quality, depth and breadth of relationships and a collaborative approach that is deeply valued.

'Despite difficult trading conditions, we have continued our forward-looking investment, including developing award-winning technologies that will improve our client offering, a market-leading people proposition that reflects our values, and a commitment to a highly sustainable, new build premises in Stonecutter Court.'

The firm is 'well placed for future growth', Reed said. 

Highlights of the past 12 months include the creation of YCNBot, described as an 'innovative opensourced alternative to ChatGPT', which allows companies to use ChatGPT, in a safe and secure way. The firm also introduced a 'market-leading menopause policy' to support women experiencing symptoms associated with the perimenopause and menopause.  

 

Top-50 financial results table 2023: updated live