Bold approach pays off with record results at law firm
Law firm Shoosmiths, which has bases in Leeds and Sheffield, has reported an 8% year-on-year rise in revenue to £181.8m in its its year end results for FY 2021/22.
Net profit increased by 9% year-on-year to £60.7m and profit per equity partner rose by 3% to £675,000.
David Jackson, CEO, said: “The firm is thriving, and I am so proud of the amazing people at our firm who have played a significant part in achieving the record financial performance we’re announcing today.
“Of course, we don’t just measure our success by financial metrics. In fact, more importantly, we measure it on making a positive impact for our clients, each other, and the communities in which we operate.
“We’ve continued to be bold when it comes to supporting our clients’ needs. It’s why we opened our first international office in Brussels, and it’s also why we continue to trailblaze with innovation, developing exciting new products to help our clients work smarter, faster and better.”
Shoosmiths adds that it brought forward its annual pay review by two months, made a discretionary ‘thank you’ payment equal to 3% of salary to all its staff in May, as well as providing for an additional payment of £1,000 for all employees in September, to help with the cost-of-living impact.