Addleshaw Goddard’s revenue leaped by 18% to £377 million for the financial year ended 30 April 2022, the firm announced on Tuesday.
In the U.K., revenue grew by 15%, while its non-U.K. business grew revenue by over 30%.
Meanwhile, the firm’s total profit for the financial year was up by £21 million to £155 million while profit per equity partner reached £866,000, up from £849,000 in the previous financial year.
During the 2021-22 financial year, Addleshaw’s FTSE 100 clients grew from 43 to 47, and the firm’s total headcount increased by 18% – up to 2,348 from 1,982. The firm now has 348 partners, of whom 31% are women, according to the firm.
The firm has also improved on its trainee retention rate of 2021, with 90% of trainees opting to stay with the firm this year, compared to 86% the previous year.
In 2021, the firm’s PEP figure jumped by 25% to £849,000, whilst revenue increased by 11% to £321 million. Meanwhile, the firm’s net profit grew by a third – up to £136 million.
In a busy year for the firm, Addleshaw dramatically expanded its European offering and opened offices in Dublin, Luxembourg, as well as offices in Munich and Frankfurt.
In May, Addleshaw confirmed plans to close its office in Hong Kong, 10 years after it opened.
John Joyce, the firm’s managing partner, said at the time: “This outcome is in no way a reflection on our excellent team in Hong Kong or the hard work they have put in. Our immediate focus is on giving colleagues all the support we can to find them a new home.”
Most firms have now released their financial results, including, in recent weeks, Freshfields Bruckhaus Deringer and Clifford Chance.