Law Firms

HSF tops £1bn revenues for first time in FY21

The group also presided over a wider increase in profits, which jumped 30% year-on-year to £367m for the year ended 30 April 2021

Global professional services firm Herbert Smith Freehills (HSF) saw revenues top £1bn for the first time in FY21, having risen 5% year-on-year from £990m to £1.04bn.

The group presided over a wider increase in profits, which jumped 30% year-on-year to £367m for the year ended 30 April 2021.

Profit per equity partner grew at a similar rate of 28%, up from £857,000 in FY20 to £1.1m the following year.

Justin D’Agostino, CEO at HSF, said: “Our resilience and growth in this most difficult of years is due to our clients, our people and careful stewardship of the business.

“This strong revenue increase, on the back of client demand and increased market share, accounted for around 60% of our profit increase this year.”

Elsewhere in the group’s unaudited results, HSF highlighted that it promoted 23 new partners to the global partnership, increased its women partners to 28%, and pledged to reduce the company’s net carbon emissions to zero by 2030.

D’Agostino added: “Looking to the future, no economy, industry or workplace has been untouched by the pandemic, and we too are focussed on transforming our business to face those challenges and make the most of opportunities.

“These results provide a very strong platform from which to take the next steps to achieve our ambitions as a team.”

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