International firm Addleshaw Goddard has become the latest City giant to report profit per equity partner in seven figures.
In the year to 30 April, profits rose 6% to £224.1m on revenue up 11% to £550.9m. Profit per equity partner came in at £1m. The firm did not disclose a PEP figure in 2024.
Andrew Johnston, managing partner, said: 'It has been another strong year. We performed well across our key markets, boosted by the Madrid office launch in May 2024 and our first full year of business in Riyadh. From market leading acquisitions to complex financing and restructurings, clients have trusted us with the most important matters for their businesses. Our growth as well as our robust cash position allowed us to continue to invest significantly in our people, offices, and innovation.'
He added: 'Since unveiling our AG2030 strategy in November, we have entered the Central and Eastern Europe market through the addition of Linklaters’ Warsaw office, opened a new office in Abu Dhabi and have continued to invest in the UK and Ireland with exciting new offices for our people. Later this year, we will mark our 250th anniversary with a move to our new Lothbury headquarters in the heart of the City of London. We take considerable momentum into the new financial year.'
Addleshaw Goddard has 21 offices across Europe, the Middle East and Asia. The firm moves to larger, new premises in London, Edinburgh and Glasgow this financial year.
Notable UK transactions in 2024-25 included advising: Nationwide Building Society on the £2.9bn acquisition of Virgin Money; Coventry Building Society on its £780m acquisition of The Co-operative Bank; and Guardian Media Group on the sale of The Observer newspaper to Tortoise Media. The firm has also advised the Department for Business, Energy & Industrial Strategy on Post Office Horizon compensation schemes.
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