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Travers partner profits soar 21% to £1.2 million

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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.”

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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.”

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36 Comments

Ear to the ground

Is it true FF is bumping NQ salaries to £130k?

(6)(64)

FBD Trainee

Yes announced on Friday

(12)(51)

Interested party

Send the email to Legal Cheek so they can confirm

(23)(0)

Fresher Radars Ltd.

Lmao p*ss off 😂🤡

(26)(1)

Actual Future FBD Trainee, not an incoming fresher reading Criminal Law: Text Cases and Materials

Freshfields’ offer documents from this year’s vacation scheme did not state the NQ salary. Perhaps there are prospects of a raise of some sort? Not too hopeful…

(0)(31)

Banta cannon

😂🤡

(6)(1)

Future Trainee at...

NQ salaries are very rarely included in TC paperwork as you sign a completely different contract when you qualify, therefore there is no need for them to include it

(40)(1)

Anonyme

Any future trainee worth their salt would realise NQ salaries don’t appear on a TC offer letter…..

(13)(0)

future phatman at freshfields bruckhaus deringer llp

WC went from £105k to £130k last year, Freshfields should follow

(3)(7)

:D :D :D

Hahahahahahahaha, yeah, not gonna happen son.

(7)(1)

trainee

How easy is it to get that level of PEP in a City law firm?

(0)(7)

VAR

I’m going to say second year SOAS?

(93)(2)

Anonyme

This is genuinely the most amateur comment I’ve ever seen on this site.

(5)(0)

Anonymous

“I am very proud of what we have achieved through this extraordinarily difficult period.”

And so that’s why we won’t pay you more. 😀 😀 😀

(25)(0)

Anon

Not related to this but Skadden is moving to 22 Bishopsgate – occupying 65k square feet of space. In the same building Covington has occupied over 85k square feet.

interesting as Skadden unarguably has a larger presence in London, bigger trainee programme etc – find it strange they only feel they need that much space

(3)(6)

WFH

Are they potentially trying to make a move towards more flexibility? Covington is small, so I imagine they’d want all their lawyers working in the office. Skadden may have the resources to create a more balanced work environment thus leading less office space?

(5)(1)

lmaocopter

Thx 4 d comment fresher, back 2 yr notes k ?

(5)(14)

Freshers Calling Other Freshers "Freshers" Radar Ltd

Lmao p*ss off 😂🤡

(5)(3)

🔝pinhead🔝

Back to your notes fresher 😂🤡

🔝the pinhead of a pinhead🔝

Back to revising for A-Level Law 😂🤡

bantaman

Interesting scoop. Staff at Skadden must be pleased to be finally leaving the Canary Wharf wasteland.

(13)(1)

PE World

Interestingly, I have started at Skadden in 2021 and still have not set foot in the CW office. Not sure why most of my colleagues seem to dislike the place. For now, I am enjoying living in CW.

Bring it on London City I guess?

Also, Skadden headcount has increased drastically since pre-pandemic. So curious as to why we will not be occupying more space in 22BG.

(1)(10)

The Real PE World

*Wakes up from dream*

Back to your land law outlines. Retakes are around the corner.

(24)(2)

The Realest PE World

Today I am going to pretend that I work for *shuffles deck of stickies* Skadden…

#fresheralert

OP

Yeah they are reducing their office space quite a bit…. wonder if they are reducing the sizes of offices, or maybe feel they don’t need as much space as less secretaries etc that used to be commonplace

There is availability below so I am sure they have an option to increase their space but does seem a bit *negative* if that’s the right word

Maybe Skadden going for the ‘tin of sardines’ approach

(0)(1)

US 2PQE

Skadden previously gave associates their own offices whereas in the new office everyone will share. They did exactly the same in NYC so though the overall office space is smaller the firm headcount is growing.

Anon

Canary Wharf is far better for working in than the city. Clean, new, lots of quick service restaurants, private security everywhere and fast transit on the jubilee line

(5)(17)

Paul

What planet are you living on?

London isn’t the place to be for ‘clean’.

If quick service chain restaurants are what you’re after instead of some of the quality eateries in the city, I worry for you.

Security is not an issue in the city, unless you’re a complete and utter snowflake.

Jubilee line is quite fast, but only gets you *back* to central, where you then have to change to finish your commute. Unless you are dry enough to live in CW, or grim enough to live somewhere like Stratford east of it.

The city has far more life, character, and it is where everybody else is at.

(25)(3)

Anon

Living on planet earth.

Don’t have time to sit and eat in the city on a weekday if you’re anything but partner, you should know that.

“London isn’t the place for to be clean” – so we should live in smelly rat infested quarters why?

Security is a massive issue in London – plenty of associates I know have been mugged or threatened around the city late at night. CW has full patrol and bollard control.

Jubilee line gets you to Bond Street in 15 mins, far nicer journey than sweating buckets on the dilapidated central line.

p*ss off lmao

“Security is a massive issue in London – plenty of associates I know have been mugged or threatened around the city late at night. CW has full patrol and bollard control.”

😀 😀 😀

😂🤡

Lmao cool story fresher. Check back with you once the Intro to Contract I and II retakes are over, yea?

(8)(5)

A Lawyer

LOL.

(2)(0)

So Embarrassing

What’s up with all these fresher comments – abnormally prevalent today. I can only assume they are coming from droves of bald, lifeless drones working in some shite middle market firm like Shoosmiths of Wombles, because they have about as much creativity behind them as a blanc canvas.

(4)(8)

🔝pinhead🔝

U OK HUN

(2)(0)

Soon to leave TS

And yet Travers can still only hand out a measly bonus – embarrassing

(5)(1)

🚨fresher alert🚨

beep beep beep

(2)(0)

Comments are closed.

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