International firm Ashurst has broken £1 billion in annual income for the first time and announced a further rise in partner profits. 

Revenue climbed 8% to  to £1.034 billion in the year to 30 April, while profit per equity partner climbed from £1.33m in 2023-24 to £1.39m.

The firm said its performance marks a ninth consecutive year of growth, with revenue and profitability growing by 8% and 10% respectively on average each year over that period.  Growth across all regions included ‘standout’ performances in the Middle East (14% revenue increase), Australia (11%) and Hong Kong (19%). Continental Europe also grew strongly, particularly in Spain (12%) and Luxembourg (14%).

In the US, the Disputes, Investigations & Advisory division achieved 35% growth, and the Projects & Energy Transition division grew by 18%.

Ashurst said the firm’s six priority industries now account for more than 85% of revenue, with Real Estate experiencing exceptional growth of nearly 50%. All global divisions reported increased revenues, notably Ashurst Advance & Consulting, which grew 20% amid ’strong demand’ for the firm’s legal-led consulting and NewLaw capability.