Ashurst latest firm to announce strong financial year results

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Ashurst today announced its results for the year ended 30 April 2014, the first year-end financial results following the merger between Ashurst LLP and Ashurst Australia.

The results, which are not broken down regionally, include:
  • Revenue of £586 million (approximately A$1.074 billion) – an increase of 6% on a like for like basis.
  • Average profit per partner of £801,000 (approximately A$1.46 million) – an increase of 22% on a like for like basis.
James Collis, managing partner of Ashurst, says although activity levels have been consistently high in the US and the UK throughout the year, it has really picked up in Asia Pacific from quarter three 2013.

“Overall, we have benefited from increased confidence in the financial markets as well as higher levels of M&A activity,” he says. "Operational efficiency remains a major focus for the firm. In the space of less than a year, our Glasgow office has become one of the largest in the network and has outperformed expectations. The office is supporting teams from all of our divisions and many of our international offices.”

Over the past year, the firm has made good progress in taking forward its new approach to diversity and inclusion as set by the Board, Collis says.

And after implementing the merger mid-year on the basis of a single profit pool and universal lockstep, Ashurst now has ambitious plans for the future.

“We will continue to invest in growth opportunities, consolidating and strengthening our position in the global legal market,” says Collis. "These are a good set of results reflecting the commitment and hard work by partners and staff across the world. They provide a strong foundation on which to build greater profitability in the future."
 
  • Client on 15/07/2014 11:09:09 PM

    As a client it's disappointing to hear that Ashurst's staff are so unhappy while the partners improve profits. I'm reluctant to support the firm when I know that nothing is given to the lawyers that our team works closely with. They are excellent and very hardworking. I'm concerned we keep rotating out junior lawyers that we work with. Disappointing and not good for the brand.

  • A lawyer on 8/07/2014 6:05:43 PM

    Ashurst lawyers among the lowest paid in the market. Many are unhappy and will leave. I'm sure the employees will be overjoyed to hear that the partners have increased profits.

  • Ditto on 8/07/2014 10:37:49 AM

    Law firm partners make the worst (business) people - they won't have the sense to increase pay and bonuses to reward the staff that are actually doing the work.

  • Hi on 8/07/2014 10:23:02 AM

    I'm sure these results will be reflected in pay increases and bonuses to reward the staff that are actually doing the work

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