Travers Smith reported record turnover of £229.4m for the year ending 30 June 2026, a 9.1% increase on the previous financial year.
Profit also rose 5.2% to £78m, while profit per equity partner increased by £100,000 to £1.4m. The results mark a return to growth after a difficult 2024/25 when turnover fell 2% to £210m and profit slipped by just under 4% to £74.1m. Last year’s PEP was set at £1.3m, reflecting an underlying 5% increase, while 24/25’s revenue per lawyer rose 6%.
Travers Smith’s latest figures surpassed its previous turnover record of £215m and profit of £77m, set in 2023/24.
The 25/26 results also mark resumed long-term growth; five years ago, the firm recorded turnover of £185.7m and PEP of £1.22m, increases of 15.4% and 21.5% respectively. While revenue has increased by almost £44m over five years, rival independent firms such as Macfarlanes have reported stronger increases in the same period.
Travers Smith managing partner Edmund Reed – now in his second term – linked the latest results to a sharper focus on profitable work in the firm’s chosen markets as it reached the £200m milestone for a third year running.
“I am really pleased with this year’s set of financial results – record income, record RPL and record PEP, delivered against a backdrop of geopolitical uncertainty and economic turbulence,” he said. “Our focus on prioritising more profitable revenue in our strategic areas is working, and we will capitalise on this solid progress as we move into the new financial year.”
He also described the firm’s move to its Stonecutter offices from its historic Snow Hill base as “a real turning point”, saying the building had changed how its teams interacted and the impression made on clients.
Senior partner Andrew Gillen said the firm was deepening existing client relationships while pursuing new mandates by building on its asset management practice, expanding its corporate client relationships through panel appointments and strengthening relationships with intermediaries.
“These results give me great confidence that our strategy is working,” Gillen said. “I look forward to building on this progress next year as we continue to grow, deepen our client relationships and deliver on our ambitions.”
Travers Smith has also been investing in technology to support its client relationship development. During the year, it launched Fintech Amplifier, an incubator offering participating companies legal advice, while also focusing on a broader range of industry insight and networking opportunities, alongside an impressive programme of CSR and ESG activities.
It also rolled out its Jylo AI platform across the firm and introduced tiered AI training for new lawyers, experienced lawyers and partners. The firm said AI literacy was now treated as a baseline competence.
Travers Smith promoted three lawyers to partner and eight to senior counsel during the year, compared with nine partners during the previous 12-month period, while it also welcomed its first solicitor-apprentice intake and introduced leadership training for new partners.
Previous senior lateral hires include private equity partner Jeremy Dennison from Livingbridge, restructuring partner Mandip Englund from Fried Frank and property litigation head Robert Payne from CMS.
However, it has also seen five practice heads leave over the past 18 months, with head of pensions Susie Daykin moving to Pinsent Masons in January this year, while competition head Stephen Whitfield rejoined what is now Winston Taylor in March after 15 years at Travers.
Jamie McKie left Travers as head of planning to join Clyde & Co in June, while Richard Offord – a 2025 partner – joined US firm Latham & Watkins, also last month.
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