Modest growth
Clyde & Co, TLT and Fieldfisher have become the latest law firms to unveil their 2024-25 financial results.
Clydes recorded profit of £177.5 million for the year ended 30 April 2025, alongside a 3% bump in revenue to £854 million — the 27th consecutive year this figure has grown.
North America proved to be the fastest-growing region, now accounting for a quarter of the firm’s fee income, up from 21.5% a year ago. This growth was bolstered by 11 new partner additions in the region through lateral hires and promotions, as well as a tie-up with Dallas outfit Tillman Batchelor.
The firm’s largest market, the UK, generated 46% of revenue, with the Middle East and Africa contributing 11%, Asia Pacific 9%, Europe 7% and Latin America 2%. Overall, Clyde added 59 partners during the year, including five in its global energy practice in the UK and Europe.
Chief executive Matthew Kelsall said: “Our commitment to multiyear investment horizons has allowed us to continue to balance investment, profitability and sustained growth.”
Meanwhile, TLT reported a record-breaking year, with revenue climbing to £187 million — a £75 million increase over the past four years.
Managing partner John Wood said: “Reaching £187 million in revenue reflects the extraordinary commitment, talent and ambition of our people, and the trust our clients place in us every day. We continue to grow and make significant investments to deliver a long-term growth strategy, whilst also staying true to our values, whether that’s leading the way in future energy, driving innovation through technology or playing a central part in building a more inclusive and sustainable legal sector.”
Elsewhere, Fieldfisher reported firm-wide revenue of £385 million, up 1% on the year before, while profit per equity partner (PEP) increased 3% to reach £1 million.
Managing partner Robert Shooter commented: “This has been a period of strategic transformation and investment in our firm. We have expanded our European presence, adding new offices in Austria, Italy, Poland and Portugal to our network in the last two years. We have also made significant investments in our premises in Hamburg, Berlin and Dublin, with the Birmingham office move and the refurbishment of our London headquarters taking place later this year. Our focus on growth in our chosen sectors and key areas of expertise has driven our recruitment of 20 new partners across our international network.”
