International firm Addleshaw Goddard has today posted record results, with global revenue up 23% on last year to £242m.
Profit rose 36% to £87m, while the firm maintains strong cash reserves of £34m despite significant investment in staff and infrastructure.
Both revenue and profit have grown year on year for the past four years.
Addleshaws expanded into Scotland in June 2017 through a merger with HBJ. Throughout the year it has added 30 new partners across England, Scotland, Asia and the Middle East.
Managing partner John Joyce said: ‘Income is now nearly 50% greater than 2013, continuing the upward trajectory of the last four years in terms of higher revenues, improved profitability and stronger cash position.
‘This has been driven most recently by our successful expansion into Scotland, ongoing investment in priority sectors and global infrastructure, as well as in the further development of our “intelligent delivery” model [combining technology, process improvements and legal project management techniques], all of which is helping us to better support and service clients.’
He added: ‘Alongside new mandates and panel positions, it is particularly pleasing to see organic growth in key areas such as corporate and infrastructure which we will look to build out further this year, helped by the success we have enjoyed in adding substantially to the strength in depth of our partner team in the UK and internationally. They are all key developments and confidence has never been higher.
‘The firm’s platform has never been better and with the platform we have created we retain huge ambition to build further on it.’