Law firm Addleshaw Goddard reported double-digit growth for the financial year ending April 2024, driven by global growth and strategic investments.
The firm’s turnover reached £495.6m, up 12 per cent from the previous year, with UK income up by 11 per cent.
While the firm’s profits jumped 14 per cent £210.5m, with Germany, Middle East and Spain tipped as drivers to the overall growth.
Its closing cash position was £139.1m.
Newly appointed managing partner Andrew Johnston commented, “These results show us continuing our positive trajectory with higher revenues, improved profitability, and strong cash position.”
Geographically, it was Ireland that had the largest growth as after two years since it opened in Dublin, revenue has grown more than 30 per cent over the last year.
Following Ireland, the firm saw income growth in the Middle East as it rose by 28 per cent (in USD), as the firm has been increasingly focused on that region.
Recently, the firm launched into Riyadh, the fourth office in the region. In addition, the firm elected Johnston as the new MP last year, the partner that oversaw the expansion into the Middle East.
In Europe, the region grew by 24 per cent with the UK, France, Germany and Luxembourg tracking ahead of the firm’s plan.
Over the last year, the firm has expanded its headcount by 6 per cent in addition with the launch of its Madrid office with 80 people added to the firm.
“Addleshaw Goddard’s continued momentum and strong balance sheet places us well to invest further in key markets, practice areas and sectors globally,” Johnston added.