Ashurst has pushed past the £1bn revenue barrier for the first time after growing its topline 8% in the year ended 30 April 2025 to £1.03bn. 

The firm reported a more modest 4% increase in profit per equity partner (PEP), from £1.34m in FY24 to £1.39m – nevertheless a record high for the Anglo-Australian firm. 

Ashurst, which has more than 1,800 lawyers across 31 offices globally, pointed out the results marked its ninth consecutive year of growth, with revenue and profitability growing by 8% and 10% respectively on average each year over the period.

Firm global CEO, Paul Jenkins, said the results reflected the successful execution of the firm’s 2027 strategy, which is focused on growth across key markets like the UK, the Middle East, Singapore, the US and Australia. The firm is also doubling down on its core industries of private capital, energy, infrastructure, real estate, the digital economy and technology and expanding its NewLaw arm, Ashurst Advance, and risk advisory services. 

“Surpassing £1bn in revenue is a fantastic milestone for the firm,” Jenkins said. “Our strong 2025 results demonstrate the strength and resilience of our business and are a clear indication that our 2027 strategy is delivering tangible results. By focusing on our clients, and concentrating on our priority industries, practice areas and markets, this year we achieved record revenue, and another year of impressive growth.”

The firm reported growth across all its regions, with standout performances in the Middle East (14% revenue growth), Australia (11%) and Hong Kong (19%). Continental Europe also grew strongly, particularly in Spain (12%) and Luxembourg (14%), while in the US the disputes, investigations and advisory division achieved 35% growth and the projects and energy transition division grew by 18%.

Like last year Ashurst’s six key industries accounted for more than 85% of total revenue, with real estate the standout performer, growing revenue by nearly 50%, and the digital economy practice growing by 21%. 

The firm said it had seen growth across all its global divisions, notably Ashurst Advance and consulting, which grew 20% amid “strong demand” for the firm’s legal-led consulting and NewLaw capability. Meanwhile disputes, investigations and advisory grew by 10%, finance, funds and restructuring by 8% and the planning, access and environment practice by 8%. Ashurst also saw strong demand for corporate across the globe, with Germany, Luxembourg, the Middle East, Spain and Indonesia showing at least double-digit growth.

Last year the firm pushed its tech ambitions through a partnership with legal AI platform Harvey that saw it roll out the tool to all of its 4,300 staff globally. Ashurst noted the majority of its workforce were now regular users of the generative AI tool, which it said had “driven efficiencies and enhanced the services provided to clients”.

In a market first, the firm also launched its risk advisory offering in the Middle East last November and, ahead of the eagerly anticipated opening of the Indian legal market to foreign firms, added a pair of former Khaitan & Co partners as the first co-chairs of its India practice. 

Standout work for the UK team over the course of the year included advising the selling consortium on the €5bn sale of UK power network operator Electricity North West to Spanish multinational Iberdrola. On the disputes side the firm is acting for a proposed class representative in a class action filed in the Competition Appeal Tribunal against Motorola that seeks damages of more than £650m for government bodies and public authorities such as the emergency services. The claim is funded by the Home Office.

Meanwhile in Europe the firm advised a club of investors including BNP Paribas Asset Management on a landmark €500m Italian solar investment. It also acted as a special German counsel for Midea Group on its IPO on the Hong Kong Stock Exchange – the exchange’s largest IPO for three years. 

The Australian team acted on a number of multibillion dollar deals including Nippon Life Insurance’s acquisition of Resolution Life Group Holdings for about $8.2bn, the largest takeover by a Japanese insurer. It also represented EnergyAustralia in the defence and successful pre-trial settlement of a greenwashing claim in relation to Energy Australia’s GoNeutral energy product being described as “carbon neutral”. The proceedings were the first-of-their-kind globally with respect to alleged greenwashing.