Record Herbert Smith Profits Reported

Herbert Smith Freehills’ financial report card shows that they too are setting records in the law firm reporting season upon us.

HSF has been raking it in this year, setting new records for revenue, profit, and partner pay. Being a British-registered firm, they’ve got to show their hand, and the numbers are pretty impressive.

Global revenue? Up by 10.1 percent, hitting £1.3 billion. That’s a lot of billable hours. But the real star of the show is the Australian division, outpacing the rest with a 15 percent revenue boost. Looks like the land down under is on fire (figuratively speaking, of course).

HSF’s global billings are giving their Anglo-Australian rival Ashurst a run for their money. But here’s a twist – HSF partners are taking home slightly less per capita. .

Justin D’Agostino at HSF, is pretty chuffed about their “strong momentum.” Eleven years of growth in a row? That’s consistency you can set your watch to. He’s particularly proud of their “twin-engines” approach – transactional and contentious disputes.

But let’s keep things in perspective. HSF is still playing catch-up with the UK magic circle firms. Clifford Chance, A&O Shearman, and Linklaters are in a league of their own, with revenue north of £2 billion. It’s like HSF is in business class while these firms are flying private.

Down in Australia, HSF is making hay while the sun shines on energy transition work. They’re so into it, they’ve even set up a new practice group to take advantage of the energy work.

Meanwhile, in the UK, American firms are shaking things up, waving their chequebooks around like there’s no tomorrow. It’s putting the pressure on firms like HSF, making the legal landscape as unpredictable as British weather.

But remember, behind every billion-pound revenue, there’s probably a mountain of coffee cups and late nights.