Profits at City firm Travers Smith LLP have bounced back following the post-pandemic slump, latest figures reveal. In the year to 30 June 2024, profits rose by 22% to £77 million on revenue up 9% to £215m. It is the first time that the firm’s turnover has exceeded £200m. 

Profit per full equity partner rose by 18% to £1.3m, the firm’s highest PEP to date.

The results contrast with those in 2022-23, when the firm reported flatlining growth amid ‘difficult trading conditions’. 

Managing partner Edmund Reed  said: ’These results are underpinned by consistent strategic investment in our business combined with a disciplined approach to costs, to ensure the successful execution of our strategy to grow our market share in our core areas of focus: international asset management, cross-border mergers and acquisitions and global disputes and investigations.’

The firm said that highlights of 2023-24 included the launch of Jylo, ’a ground-breaking, AI software company’.

 

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