Ashurst reports 6% increase in revenue, 22% increase in PEP
Ashurst has reported a six per cent increase in revenues to £586 million in the last financial year, while average profit per equity partner leapt up 22 per cent to reach £801,000.
Managing partner James Collis attributed the growth to sustained high activity levels in the US and UK throughout the year, and an increase in activity in Continental Europe, the Middle East and Asia Pacific from the third quarter in 2013.
“We have benefited from increased confidence in the financial markets as well as higher levels of M&A activity,” he said.
The financial results follow the full financial integration of Ashurst’s UK and Australian arms, with the introduction of a single profit pool and firm-wide lock-step compensation.