Revenue up too 📈
Travers Smith‘s revenue and partner profits have risen substantially over the past financial year, with the latter enjoying a 21% uplift to reach £1.22 million.
The firm’s provisional financial results also show revenue enjoyed a healthy 15.4% increase to £185.7 million. The results are marked improvement on last year’s performance, which saw partner earnings slump 20% to to “approximately £1 million” and revenue remain flat at £160.9 million.
Commenting on the latest figures, Travers Smith’s managing partner Edmund Reed commented: “None of us were expecting that we would be living and working under lockdown restrictions for such a long period of time. The way our people performed during the crisis continues to be amazing: by supporting each other both professionally and personally, every team across the firm has contributed to produce these excellent results. I am very proud of what we have achieved through this extraordinarily difficult period.”
Elsewhere, HFW saw revenue break through the £200 million mark for this first time, a 2.6% rise to £200.2 million, while PEP rocketed by almost a third (29.8%) to £683,000. Net profit also underwent a sizeable jump, 26.4% to £59.7 million
HFW’s global senior partner Richard Crump said: “Becoming a £200 million business is a major milestone in our continued growth as a firm, and to have recorded what is our best ever year under such extraordinarily challenging circumstances is a real testament to the talent and dedication of the people we are fortunate to have at all levels across HFW.”
He added: “It also reflects the strength of our relationships with our clients, who turned to us as sector experts to help them through the challenges of the COVID-19 pandemic.”
