Payne Hicks Beach has reported buoyant trading figures as it continues to expand its portfolio of international clients. The venerable Lincoln’s Inn private client specialist posted a 47% rise in profit before members’ remuneration and profit shares to £17.9m for the year to 31 May, up from £12.2m in the previous 12 months. Turnover climbed from £37.9m to £44m, LLP accounts filed at Companies House show.
Staff were handed a 3% salary bonus. The member with the highest profit share took £2.6m, up from £2.5m the year before.
PHB was founded in 1770 and has remained at offices in New Square ever since. The firm is known for its private client and family law work, serving wealthy clients, landed estates, entrepreneurs and family offices. Baroness Shackleton (Fiona Shackleton), a longstanding partner described as the ‘most feared divorce lawyer in Britain’, is its best-known practitioner.
In a statement, the firm said its results reflect the continued success of a five-year strategic transformation, ‘which has repositioned PHB as a modern, internationally focused firm serving global clients with increasingly complex requirements’.
Turnover grew in all departments in 2024-25, with dispute resolution achieving the largest increase (21%). Over the past five years, employment has posted the highest growth in income (226%), followed by immigration (127%) and corporate (100%). Private client (up 67%) and dispute resolution (36%) have remained ‘strong’.
Property remains ‘stable’ year on year, while family ‘has returned to growth in the last 12 months (up 7%) following planned partner retirements’.
PHB said this momentum has continued into the new financial year, with first-quarter results for 2025-26 up 32% on the same period last time.
Chair Robert Brodrick said: ‘This year’s record results demonstrate the success of our five-year transformation. We’ve evolved our business, expanded our services and strengthened our partnership to deliver exceptional growth. We are confident in delivering sustained double-digit growth for the years ahead.’
International work now represents a ‘significant proportion’ of turnover. This is expected to double over the next five years as the firm continues to attract global clients seeking London expertise.
PHB now has 45 partners, with the proportion of women doubling in the past five years to one third. The average partner age is under 50, with 19 aged 45 or younger. The firm said it has also grown its legal director cohort to more than 15.
‘Senior figures such as Baroness Shackleton continue to play an important mentoring role - sharing insight, experience and guidance that help shape the firm’s culture and nurture future leaders,’ the firm said.
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