Two international firms have announced rising profits as the 2024-25 results reporting season gets under way.
At DAC Beachcroft, provisional unaudited results for the year to 30 April show profit before tax up 7.1% to £76 million on turnover up 6.4% to £348.1m. Profit per equity partner exceeded £750,000 for the first time.
David Pollitt, managing partner, said: 'Establishing balance in our business has been the key to driving growth in recent years. We have focused on strengthening our existing core sectors of Insurance, Health and Real Estate, while at the same time expanding our full-service offering through our business advisory group and building out adjacencies such as financial services, technology, and shipping, trade and commodities.'
Partner and head of insurance Helen Faulkner will take over as managing partner in November. She said: 'DACB is in an incredibly strong position, and we are investing to support growth, remain competitive and futureproof our business. We are modernising our processes and systems, introducing further AI tools and using technology strategically.'
Meanwhile Taylor Wessing announced UK profits up 12.3% to £103 million on revenue up 15% to £283.7m. Global revenue grew by 10.1% to a record high of £526.2m. Profit per equity partner rose by 21% to £1.1m.
UK managing partner and global co-chair Shane Gleghorn commented: 'We are delighted to see strong growth across our business, as the strategy that we implemented is proving effective. Our ongoing focus on premium, high-profile transactions, complex disputes and critical regulatory work in our core sectors is paying dividends.'
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