HFW has posted what it described as a "measured" set of results for the year ended 31 March 2026, growing revenue 2% to £276.2m against a 5.9% dip in net profit to £72.6m.
Profit per equity partner (PEP) also declined by 6% to £779k over the year – the fourth in HFW's current growth strategy – while revenue per lawyer (RPL) inched up 1.4% to £471k, marking its seventh consecutive year of growth.
HFW said the results reflected a planned period of investment the business, including in its international platform, technology and strategic hires.
The firm noted that its revenue and net profit had grown by 39% and 33% respectively since the introduction of its growth strategy at the start of FY23, while PEP was up 16% over that same four-year period and RPL 13%.
The strategy is intended to make 700-lawyer HFW the leading sector-focused law firm globally across aerospace, commodities, construction, corporate and commercial, insurance and shipping, as well as build scale across its international network and broaden its offering to clients.
“Our performance in FY26 reflects a more balanced year following a period of significant growth," HFW’s global senior partner, Giles Kavanagh, and managing partner, Jeremy Shebson, said in a joint statement. "Since introducing our growth strategy, we have seen strong and consistent progress across the business, and we're proud of the work we've done in supporting clients on their most complex and challenging matters."
The firm said its sustained increase in RPL had been driven by focusing on high-value work across its sectors and in commercial disputes, regulatory, corporate, finance and employment. FY26 highlights included advising Abu Dhabi Commercial Bank in the $2bn NMC case, Marsh in long-running disputes relating to the collapse of Greensill Capital and the Baltic Exchange in a high-profile High Court dispute relating to the conflict in the Strait of Hormuz.
Another growth driver was the firm’s 22-office international network, with international revenue more than doubling over the past decade and now accounting for almost 60% of total revenue.
Its international footprint was expanded with the launch of its fourth Australian office, in Brisbane, with the hire of a five-lawyer construction team from CDI Lawyers, while the firm moved to upgraded space in Melbourne, Geneva, Riyadh, Hong Kong and Piraeus.
The firm said it has added nearly 60 lateral partners since the beginning of FY23 – equivalent to around 30% of its total partnership – including 14 since the beginning of FY26.
The firm also pointed to a 9% revenue rise in Continental Europe in FY26, noting the region remains a focus for further growth, while revenue generated by the firm's London office exceeded £110m for the first time.
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