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."