PEP holds above £1m as firm leans into tech
National law firm Shoosmiths has posted record profits of £80 million for the 2025/26 financial year, with profit per equity partner (PEP) topping the £1 million mark for the second year running.
The firm’s latest results show profit up 4% to £80.0 million, while PEP rose 3% to £1.04 million. Turnover climbed 2% to £221.4 million. Stripping out its serious injury business, which was acquired by Fletchers, Shoosmiths says underlying turnover was up 5% and underlying profit up 11%.
David Jackson, CEO of Shoosmiths, said that the business “remains highly focused and disciplined, with profit growth again outpacing revenue growth”. He added that Shoosmiths “is combining outstanding legal judgement with the confidence to invest in technology, data and client delivery, doing that from a position of real financial strength”.
Shoosmiths put the results down to a focus on higher-value work, pointing to mandates spanning cross-border private equity, major real estate deals, heavyweight litigation and restructuring. The firm also flagged continued investment in tech, including Project Apollo, a new generative AI-powered contract review platform built with Microsoft that Legal Cheek reported on last week.
It has been a busy year on the tech front. Back in December, Shoosmiths dropped £1 million into its firmwide bonus pot after staff hit an internal target of one million Microsoft Copilot prompts, more than four months ahead of schedule. The firm reckons it was the first major UK outfit to tie a firmwide bonus directly to AI use across its workforce.
