Ashurst posts €1.3B revenue in pre-merger year
Ashurst has reported record revenues of €1.334 billion for the financial year ended 30 April 2026, representing an 11% increase on the prior year. The results mark the firm’s tenth consecutive year of significant revenue growth and constitute the last full financial year before its integration with Perkins Coie. Profit per equity partner rose 15% to €1.842 million, with average profit per equity partner growth of 10% per annum over the decade.
Regional performance
The firm recorded double-digit revenue growth across all major regions. The Middle East led with 33% growth, followed by the US at 18%, continental Europe at 17%, Asia at 14%, and the UK at 12%. Within continental Europe, France grew 32%, Germany 23%, and Italy 17%. In Asia, Hong Kong posted 22% growth and Singapore 21%. Australia, Asia, and the broader APAC region grew at 10%, 18%, and 12% respectively on a constant currency basis, with foreign exchange fluctuations affecting reported figures.
In the UK, the Disputes, Investigations and Advisory division delivered a 21% increase. The Projects and Energy Transition practice performed strongly, particularly in the US (27%), France (24%), the UK (10%), and the Middle East (27%), reflecting sustained demand for energy transition advisory work across practice areas. Corporate Transactions grew 15% globally, with notable increases in France (37%), Germany (19%), the UK (14%), Australia (25%), mainland China (15%), and Hong Kong (30%). The Financing, Funds and Restructuring division grew 15% worldwide, while Global Loans and Global Markets revenues rose 13%. The Global Financial Regulation practice achieved double-digit growth in France (10%) and the UK (18%), and its introduction in the Middle East has been well received by clients.
Technology and strategic priorities
Ashurst Advance, the firm’s technology and innovation arm, recorded 11% growth in global revenues, with AI and technology-based services growing by more than 50% during the year. The firm received an innovation in strategic direction award at the FT Innovative Lawyer Awards for its work on the impact of AI on law firm business models and pricing — the only award cited in this article from a publication outside the lcpublishinggroup network.
Ashurst’s strategic focus on six priority industries — banking, energy, infrastructure, private equity, real estate, and technology — has exceeded its target of generating 85% of revenues from those sectors, as set out in its 2027 strategic plan. The firm also opened its first office in Africa, in Casablanca, extending a presence on the continent that spans more than 120 years. Pro bono hours increased by 12% during the year.
Global CEO Paul Jenkins noted that closing the firm’s last financial year as Ashurst with a decade of consecutive revenue growth, averaging 9% per annum, reflects both client confidence and the quality of the firm’s team. He added that “continued investment in innovation and technology solutions has positioned the firm well for the next stage of its journey, and that the strong financial foundation and a clear, proven business plan provide a solid platform from which to pursue continued growth from day one as Ashurst Perkins Coie”.
Global Chair Karen Davies highlighted the firm’s results across all regions and underscored that “the talent of the firm, together with its values-based culture and commitment to clients, will be the key pillars of future growth as the combination with Perkins Coie approaches”.
The integration of Ashurst with Perkins Coie is described as imminent. The first full financial year under the Ashurst Perkins Coie name will correspond to 2028. The combined firm is expected to serve clients seeking access to a global legal platform underpinned by innovation.
