UK Top 50 law firms Burges Salmon and Freeths have both recorded another year of successful growth.
Burges Salmon has reported a 10% increase in turnover, jumping from £108.7 million to £119.2 million in the most recent financial year.
The firm, which is headquartered in Bristol, also grew its operating profits from £40.6 million last year, to £42.5 million this year. Profit per equity partner now stands at £517,000, from £512,000.
Managing partner Roger Bull said: “This double-digit growth reflects the significant commitment, contribution and high levels of productivity that our people have all once again delivered whilst maintaining an absolute focus on delivering excellent levels of service to our clients, alongside our passion for making the greatest impact we can on the communities where our people live and work.”
Meanwhile fellow Top 50 outfit Freeths also grew its revenue by 9.3% last year, to hit £112 million for the financial year 2021/2022.
According to the firm’s latest Companies House accounts filings, the firm also grew its net profit by 7% to reach £43.2 million. Earlier in the year, the firm stated its net profit as £22.9 million. An accountant for the firm said that figure had not included work undertaken during the period but not billed at the time.
Speaking to Law.com, Freeths managing partner Karl Jansen said: “We’ve had double digit, year on year growth, and we want to keep achieving that, and if we do that, then we can continue to grow significantly over that five year period. So far this year, whilst not complacent, we’re confident that as we come up to our half year, we can achieve double digit growth again next year.”