Ahead of its combination with Perkins Coie, global law firm Ashurst today announces record breaking revenue for the financial year ended 30 April 2026. Revenue for FY26 stands at GBP 1.152 billion, up 11% from GBP 1.034 billion in FY25, with a 15% increase in profit per equity partner to GBP 1.592 million.
The firm has achieved ten consecutive years of significant revenue growth, with average growth in profit per equity partner of 10% each year over that period. FY26 marks the final full financial year before Ashurst's impending combination with Perkins Coie to form Ashurst Perkins Coie.
Paul Jenkins, Global CEO, said:
"Closing out our last financial year as Ashurst with a decade of consecutive revenue growth, averaging 9% annually, is a significant achievement and a testament to both the trust our clients place in us and the quality of our people.
"Building on our long history, we continue to invest in innovation and technology driven solutions, with usage of our AI and tech enabled services increasing by more than 50% over the past year. This positions us well to remain ahead in a rapidly evolving legal market and to deliver greater value for our clients.
"We are now on the cusp of our combination with Perkins Coie, and these strong results mean that we are well positioned from day one to continue our growth trajectory. A strong financial foundation, underpinned by a clear and well-developed business case, puts us in a very strong position for the next stage of our journey as Ashurst Perkins Coie.
"I am excited about what this next stage will mean for our clients and people as we become a truly global firm."
The firm delivered strong results across all regions, with double-digit revenue growth reported in the Middle East (33%), US (18%), Continental Europe (17%), Asia (14%) and the UK (12%). In Continental Europe, notable growth was seen in France (32%), Germany (23%) and Italy (17%), while Hong Kong (22%) and Singapore (21%) saw a particularly impressive trajectory of growth in Asia. Movements in exchange rates impacted the FY26 results, and growth rates in Australia, Asia and APAC were 10%, 18% and 12% respectively on a like-for-like exchange rate basis.
The UK's growth was underpinned by an exceptional year with the Disputes, Investigations & Advisory division growing by 21%. Demand for energy transition advice continued to be strong across all the firm's practices and Projects & Energy Transition continued to perform well particularly in the US where the practice grew by 27%, France (24%), UK (10%) and Middle East (27%).
Continued investment and strong demand for Corporate Transactions was reflected by double digit growth (up 15%) across the globe, with notable increases in France (37%), Germany (19%), and the UK (14%), as well as strong growth in Australia (25%), Mainland China (15%) and Hong Kong (30%).
Globally, the firm's Finance, Funds & Restructuring division grew by 15%, and increased demand in regulatory work saw the global Financial Regulatory practice once again delivering impressive results, with double digit growth in France (10%), and the UK (18%). Ashurst's introduction of the practice to the Middle East has also been well received by clients. Strong demand has also continued for the Global Loans & Global Markets practice which also increased revenue by 13%.
The firm continued to accelerate its focus on AI, innovation and delivering value for clients through the use of technology, with Ashurst Advance delivering an 11% increase in global revenue, including more than 50% growth in AI and technology enabled services. The firm continues to receive strong client and market recognition for its leadership in AI, including an award for innovation in strategic direction at the FT Innovative Lawyer Awards for its ground-breaking work on the impacts of AI on firm business model and pricing.
Ashurst's strategic focus on six priority industries, Banks, Energy, Infrastructure, Private Capital, Real Estate and Technology, has been a success with the firm exceeding its ambitious target of 85% of revenue generated from those industries as identified in its 2027 strategy.
The firm also opened its first office in Africa, in Casablanca, marking the next step in the growth of Ashurst's Africa practice, which dates back 120 years.
In its contribution to the communities in which it operates, Ashurst increased its commitment to pro bono work with a 12% increase in time contributed.
Global Chair, Karen Davies said: "It's great to see our last full financial year out with such incredible results across all of our regions around the globe. We never take for granted the trust our clients place in us to deliver on their most important mandates and complex legal needs. Being able to support them to achieve their goals and realise their ambitions is a privilege.
"Huge thanks to our people, who are what really set us apart - the talent across our firm is truly outstanding. As we prepare to embark on the next step of our journey as Ashurst Perkins Coie, it will be our shared values-led culture, our commitment to our clients and the quality of our people around the globe that will be key to our future growth and success."
Paul Jenkins concluded: "As we deepen our focus on our key sectors of Financial Services, Energy & Infrastructure and Technology we look to the future with confidence. Looking ahead to the next chapter as Ashurst Perkins Coie, we are well positioned to deliver for our clients, who are increasingly seeking to tap into a global legal platform underpinned by innovation, as well as for our people and our communities."
In light of the Ashurst's impending combination with Perkins Coie, the first full year financial reporting period trading as Ashurst Perkins Coie will occur in 2028.
