Addleshaws reports healthy revenue growth as PEP reaches £1m

Addleshaw Goddard has delivered another strong performance, with revenue reaching £551 million and PEP of £1 million for the 2024/25 financial year.

The figures mark AG’s eighth straight year of revenue and profit growth. Revenue rose 11%, continuing a run of double-digit growth after last year's 12% improvement and 2023's bumper 18%.

Partner numbers also increased significantly, reaching a total of 444 on 59 new hires and promotions.

Among a number of high-profile mandates, the firm advised Nationwide on its blockbuster £2.9 billion takeover of Virgin Money and advised Coventry Building Society on its £780 million takeover of The Co-operative Bank. It also landed the lead role on sports supplement company Applied Nutrition's £350 million London IPO in October, the biggest consumer float since 2021.

Key moments

AG kept up its international push, opening in Madrid last May before expanding its Dublin presence in January and, most prominently, adding an 80-lawyer, nine-partner Warsaw office from Linklaters for its entry into the Polish market.

It has stuck with the same playbook into the current financial year, with a new Abu Dhabi office and further expansion in Glasgow and Edinburgh announced in June.

The firm has also advanced its technology strategy. In March, it rolled out legal AI platform Legora, a key step in its innovation strategy. In May, we spoke with Kelly Westland, AG’s head of innovation, on The Non-Billable Podcast about how the firm is approaching tech and transformation.

What they said

Managing partner Andrew Johnston said: "It has been another strong year for AG and we are pleased with the financial results, as well as the progress that we have made in evolving the firm’s growth strategy.

"We performed well across our key markets, boosted by the Madrid office launch in May 2024 and our first full year of business in Riyadh.

"Since unveiling our AG2030 strategy in November, we have entered the Central and Eastern Europe market through the addition of Linklaters’ Warsaw office, opened a new office in Abu Dhabi and have continued to invest in the UK and Ireland with exciting new offices for our people.

"We take considerable momentum into the new financial year as we focus on winning additional market share across key clients, geographies and sectors."