On the commercial front, the firm recorded a revenue increase of just under 6 per cent to £531.1 million, or approximately $930.73 million (taking into account the exchange rate of £1 to $1.75 as of 7 July 2022).

Profit per equity partner, or PEP, increased from £636,000 ($1,114,557) in the last financial year to £739,000 ($1,295,059) this year.

The strong financial results were supported, the firm noted, by the doubling of budgeted revenue by its equality law practice group in its first financial year, as well as the investment in its multinational partnership, with 75 per cent of new lateral hires coming outside of the United Kingdom.

Elsewhere, the firm saw the verification of its science-based, net-zero target, so that it can meet its goal of abating 90 per cent of its 2019 baseline emissions by 2040.

On the people and development front, the firm has achieved its target of having women in 45 per cent of its legal director and partner promotions, and for its clients, supported 125 organisations with responsible business and D&I strategies, doubled the firm’s paralegal centre for excellence, and recruited an ESG-focused team in South Africa to enhance the firm’s multinational environmental expertise.

Speaking about the results, Pinsent Masons senior partner Richard Foley said that the progress that the firm has made in diversifying client services, improving representation across the legal profession, and taking action to do its part to address climate change “are all testament to what can be achieved when broader measures of success are applied to a business”.

“We, like many other organisations, aspire to do the right thing for our clients, people and communities, but what we have seen since we introduced our broader metrics three years ago, is that when we measure these things over time behaviours do change,” he said.

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“Purposeful and profitable growth are a consequence of getting everything else right. We’ve made great strides over recent years and are delighted to see others in our industry do the same. It’s a reassuring signal of the direction of travel within the legal sector and Pinsent Masons has no intention of slowing the pace.”

James Morgan-Payler (pictured), who is the head of the firm’s Asia-Pacific arm, added: “Our sector-led expertise and professional services capabilities in Asia Pacific continues to go from strength-to-strength following a positive year of growth across the region.

“Our teams have advised on a number of landmark projects and collaborated with clients on a range of initiatives which enable them to advance their strategic goals. Standout success includes advising services contractor for the North-East Link on one of the largest road projects in Victoria and advising BP on the Guangzhou Aulton New Energy Tech battery swapping joint venture in China.”