Fladgate has kicked off the UK law firm financial reporting season on an upbeat note by posting revenue growth of 17% for the 2024/25 financial year to £88m.

The London-based top 100 firm said it would also be a record year for profit per equity partner (PEP), which it expects will exceed £1m for the year ending 31 March, up 20% from last year. The strong performance means Fladgate will pay out a firm-wide profit sharing bonus to reward all 370 staff. 

Fladgate managing partner Grant Gordon hailed the results as a “milestone that speaks to the collective ambition across the firm, even against the backdrop of a complex and uncertain market environment”.

“Our focus on private capital work, involving all key transactional teams has been central to this success, underpinned by standout performances from our dispute resolution and advisory teams,” Gordon said. “With disputes revenue up by 28%, it’s evident that our strategy is not only resonating with clients but also unlocking real growth potential.”

The results are the first for Fladgate under its 2024-27 business plan, which the firm said focuses on growth through market cycles, strengthening its private capital and disputes offerings while maintaining its corporate and real estate practices and building on its “expertise and connectivity in key areas”.

Fladgate’s business plan includes a commitment to hire 24 new partners in key practices by 2027. The firm, which is highly ranked by the Legal 500 in areas including smaller M&A deals (worth up to £100m), mid-market commercial litigation and immigration, is making good on that aim, having made 17 lateral hires since the start of last April alongside five internal partner promotions. 

The hires have included nine partners the firm picked up in February from Memery Crystal, which splintered after the collapse of its parent group, RBG Holdings. They practise across finance, corporate, real estate and real estate litigation. Further hires have been made across disputes, family law, corporate, real estate, private client, venture capital and private equity from rivals including Stephenson Harwood and Ashurst, among others. 

Fladgate said its lateral hiring programme meant its partner headcount had grown by 11% year-on-year. 

Gordon added: “We are ahead of schedule on many of our three-year strategic goals, but we’re not slowing down. As we continue to support entrepreneurs and the wider private capital ecosystem, we remain committed to being the go-to firm for top-tier legal talent and delivering exceptional service to our growing client base.”