find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Senior Government Lawyer
Category: Other | Location: Canberra ACT 2600
View details
Ashurst revenue up, Australia strong performer

Ashurst revenue up, Australia strong performer

Mary Padbury

Ashurst Australia’s infrastructure and finance practices have been singled out as money-makers as the firm posts an increase in global revenue.

Ashurst has recorded $1,165 million in global revenue for the year ended 30 April 2015, up $6.23 million on 2014.

However, the average profit per equity partner declined by $58,157 to $1,551,000.

Mary Padbury (pictured), vice chairman of Ashurst, told Lawyers Weekly that the firm’s Asia-Pacific offices performed strongly when compared with other regions, with infrastructure and finance both stand-out practices in Australia.

“We have continued to grow these practices, ensuring our very strong client base is being more effectively served, not just in Australia and Asia, but across the firm globally,” she said.

London-based managing partner James Collis also credited the Asia Pacific’s performance for propping up the firm’s global revenue figure. He added that the Middle East, French and Spanish offices, and activity in the resources, infrastructure and finance sectors, have contributed to the positive financial results.

A breakdown of the financial results by region was not available, however, Ashurst told Lawyers Weekly.

Over the past 12 months, the firm has undertaken a major global strategic review with consultancy firm Bain & Co. The recommendations of the review are currently being implemented.

“We have been through a year of consolidation and significant investment in the future performance and success of the business,” Mr Collis said.

“We are confident that the investments we have made have created an even stronger platform for the firm and we will build on this in the next financial year.”

A number of other UK-headquartered firms with offices in Australia have also released their end of financial year results for 2014-15.

Herbert Smith Freehills reported a jump in profitability, with the firm’s Australian managing partner Jason Ricketts pointing to the success of its Australian merger more than two years ago. The firm’s overall revenue also increased to $1,693 million, up 2 per cent on the previous year.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Ashurst revenue up, Australia strong performer
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice, Victorian County Court, retiring judges
Aug 21 2017
Replacements named for retired Vic judges
Two new judicial officers have been appointed in the Victorian County Court, following the retire...
Aug 21 2017
LCA applauds proposed Modern Slavery Act
The Law Council of Australia has welcomed new recommendations for the development of a Modern Slaver...
Aug 21 2017
Top-tier offers targeted mentoring for Indigenous law students
Students at Macquarie University will be the first to benefit from a new Indigenous mentoring progra...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...