Addleshaws PEP Hits £1 Million, Double-Digit Revenue Increase

Addleshaw Goddard Achieves £1 Million PEP Milestone Amid Double-Digit Revenue Growth

Addleshaw Goddard (AG), a leading international law firm, has reported robust financial results for the financial year ended April 30, 2025, marking its eighth consecutive year of revenue and profit growth. The firm saw revenue increase by 11% to £550.9 million, up from £495.6 million the previous year, while overall profits rose 6% to £224.1 million. Notably, profit per equity partner (PEP) reached £1 million, a 1.6% increase from £984,000 in FY2024, making AG one of the latest UK firms to hit the seven-figure PEP threshold.

This performance underscores AG’s ongoing expansion strategy, with significant contributions from new international offices and hires. The firm now operates 21 offices across Europe, the Middle East, and Asia, with global headcount growing 6% to 2,952 employees. The partnership expanded by 9% to 444 partners, including 59 new hires and promotions.

Key Financial Highlights

Drivers of Growth

• International Expansion: The results were boosted by the launch of a Madrid office in May 2024 and a full year of operations in Riyadh, Saudi Arabia. Post-year-end, AG acquired Linklaters’ Warsaw office (entering Central and Eastern Europe) and opened a new base in Abu Dhabi’s Global Market, its fifth in the Middle East. Non-UK income has grown over 300% since 2017/18, with the Middle East seeing 43% revenue uplift in prior years.
• Sector and Practice Performance: All nine core sectors—Financial Services (contributing ~30% of income), Energy & Utilities, Healthcare, Retail & Consumer, Real Estate, Transport, Manufacturing & Industrials, Sport, and Technology—delivered double-digit growth. Key practice areas like Funds, Restructuring, Global Investigations, and Financial Services saw heightened demand. In Ireland (post-2022 merger with Eugene F. Collins), revenue grew 45% since the merger, with double-digit increases in litigation, corporate, finance, and real estate.
• Notable Transactions: AG advised on high-profile deals, including Nationwide Building Society’s £2.9 billion acquisition of Virgin Money, Coventry Building Society’s £780 million purchase of The Co-operative Bank, and Guardian Media Group’s sale of The Observer to Tortoise Media. Internationally, it handled a £500+ million worldwide freezing order for Unitel against Isabel dos Santos and World Bank funding for Nigerian dam projects.
• Investments in People and Innovation: The firm invested heavily in talent, technology, and infrastructure, including launching AGPT (an internal secure version of ChatGPT) and relocating offices in London, Edinburgh, Glasgow, and Dublin. AG was named Law Firm of the Year (The Lawyer 2024), the most digital law firm in Europe, and one of the top 10 most innovative in Europe (FT Innovative Lawyers Report 2023). It achieved net zero in UK operations and launched new charity partnerships.

Strategic Outlook

Managing Partner Andrew Johnston, who assumed the role in May 2024, highlighted the firm’s resilience: “It has been another strong year for AG… Our year-on-year revenue and profit growth as well as our robust cash position has allowed us to continue to invest significantly in our people, offices, and innovation.” Under the AG2030 strategy unveiled in November 2024, AG aims to double in size by 2030, focusing on key markets like Ireland and the Middle East. In Scotland, revenue grew 17% (seventh straight double-digit year), while the IP team secured life sciences victories and entered Managing IP rankings for trademarks after hiring a litigation team.

Compared to peers, AG’s 11% revenue growth outpaced UK rivals like Pinsent Masons (4.7%) and Simmons & Simmons (7%), though their absolute revenues remain higher (£680m and £615m, respectively). This comes amid a cooling in growth rates for AG (down from 12% in FY2024 and 18% in FY2023), but the firm remains optimistic about sustained momentum.

For more details, visit the firm’s official announcement or check updates on platforms like The Lawyer and Legal Business.