Three UK law firms – Shoosmiths, Linklaters LLP, and Weightmans LLP – have reported top financial performance for the 2023/24 fiscal year, with Shoosmiths crossing the £200-million revenue threshold for the first time.
Shoosmiths’ revenue grew by 6 percent to £206.7 million and the firm’s profits increased by 5 percent to £66 million as it moves towards its goal of being a leading upper mid-market law firm by 2030.
Profit per equity partner saw a significant 16 percent rise to £781,000.
David Jackson, Shoosmiths’ CEO, attributed the results to the firm’s strategic focus, improved client relationships, expansion into more complex, high-value work, and cultivation of their corporate culture.
Experian recognized Shoosmiths as the most active M&A law firm in London and the UK for 2023, having advised on deals worth over £7 billion.
As we reported this month, Linklaters also reported record-breaking results with firm revenues exceeded £2 billion for the first time, with pre-tax profits reaching an all-time high of £942 million. Profit per equity partner rose by 8 percent to £1.9 million. Both the US and UK offices of Linklaters achieved their best-ever results.
Paul Lewis, Linklaters’ firmwide managing partner, highlighted the firm’s success in attracting major cross-border mandates from corporate, bank, funds, and financial investor clients.
He noted the firm’s leading position in league tables across the UK, Europe, and Asia, and expressed optimism about the rebounding markets, particularly in public M&A.
Weightmans is the final firm in the trio, reporting strong financial results, with income surpassing £140 million for 2023/24. The firm’s net profit increased by 41.1 percent to £18 million, and profit per equity partner reached £391,000.
Another firm, Gateley Legal, reported continued revenue growth, reaching £172.5 million for the year.
