International firm Addleshaw Goddard has announced a sharp rise in both income and profits - with revenue from overseas up over 300% since 2018.
AG said growth was strong in the six core sectors that contribute 80% of the firm’s income: energy & utilities, financial services, healthcare, retail & consumer, real estate and transport. Financial services is the largest, contributing 30% of total income.
Gross revenue increased by 18% to £443m in the year to 30 April 2023, with total profit also 18% higher at £184m. UK revenue grew 14%. The firm does not disclose a profit per partner figure.
John Joyce, managing partner, hailed ‘another set of outstanding results’, noting that the firm has added 100 new partners in the past two years. Global headcount at the end of the year was 10% higher at 2,358.
Addleshaws is to open a fourth office in the Middle East, in Riyadh, ‘shortly’.
The firm ended 2022/23 with £146m in cash, an increase of £10m on the prior year.
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