Record profits of £388m at Herbert Smith Freehills

Record profits of £388m at Herbert Smith Freehills

Justin D’Agostino

Global law firm Herbert Smith Freehills (HSF) has reported record revenue, profit and PEP in its latest financial results, with revenue of £1.186 billion and profit of £388.2 million.

The firm, which has an alternative legal services (ALT) centre in Belfast, saw revenue increase by eight per cent and profit by two per cent on the previous year.

Profit per equity partner (PEP) was £1.173m, a one per cent increase on the previous financial year.

Commenting on the results, CEO Justin D’Agostino said: “This year has delivered our highest revenue and profit to date, surpassing last year’s record result. This is the firm’s 10th consecutive year of revenue growth.

“We have a well-hedged global business across a broad mix of geographies, sectors and practice areas — and our ‘twin-engines’ of transactional and contentious expertise keep the firm resilient.

“Our financial strength allows us to invest in our people, in our clients and in our infrastructure. This includes growing our private capital, energy transition and ESG practices — areas generating significant growth for our firm.”

He added: “The UK and US regions had an outstanding year, and we also saw good growth in EMEA. Even though the markets were tough this year in Asia and Australia compared with the strength of last year, we continued to advise clients on their landmark deals and their most complex disputes.”

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