Global firm Kennedys remains confident that revenue will pass $1bn (£730m) by 2030, as profits continue to climb.

In the year to 30 April 2025, Kennedys Law LLP posted a 20% annual increase in pre-tax profits to £128.6m before members’ remuneration and profit shares, accounts filed at Companies House show.

Last June Kennedys reported 13% growth in revenue to a record £428m, but did not disclose profit figures. Senior partner John Bruce said then that the firm had set itself the ‘ambitious goal’ of $1bn in global turnover by 2030. Income has trebled at the insurance and disputes-focused business since its 2017 merger with US firm Carroll McNulty & Kull.

Kennedys LLP achieved the steep rise in its trading surplus despite a substantial increase in the employee wage bill. Staff costs climbed from £183m in 2023-24 to £205m last year.

Income rose in each of the firm’s geographical markets, including from £194m to £209m in the UK and £86m to £105m in north America.

Staff numbers grew from 2,260 to 2,477, and LLP members from 337 to 358.

The highest-paid partner received £1,717,000, up from £1,544,000.

Kennedys declined to comment.