Ashurst posts record partner profits in final year before Perkins Coie merger

Ashurst has reported record financial results in its final full year before combining with US firm Perkins Coie, generating nearly £1.2 billion in revenue and extending its growth streak to a decade.

Revenue for the year ended 30 April 2026 increased 11% from roughly £1 billion a year earlier, while profit per equity partner rose 15% to nearly £1.6 million.

The results cap ten consecutive years of revenue growth for the firm, which said it has averaged annual revenue growth of 9% over that period.

Merger runway

The figures come just months before Ashurst’s combination with US firm Perkins Coie, which will create a new firm branded as Ashurst Perkins Coie. FY26 will be the last complete financial year reported before the merger takes effect.

Global chief Paul Jenkins said the firm’s performance provided a strong platform for the combination, adding that the business was entering the merger with a “strong financial foundation” and “well-developed business case”.

Global growth

Ashurst reported double-digit revenue growth across all major regions. The Middle East delivered the strongest increase at 33%, followed by the US at 18%, continental Europe at 17%, Asia at 14% and the UK at 12%.

The UK business was supported by a particularly strong year for disputes, investigations and advisory work, where revenue increased 21%. Demand linked to the energy transition also remained strong across multiple practices and jurisdictions, particularly in the US and France.

Globally, the corporate transactions and finance, funds and restructuring divisions each grew by 15%.

‍AI investment

The firm said it continued to increase its focus on AI and technology-enabled legal services, which it said grew by more than 50% this year.

Ashurst also said its industry-focused strategy is on track, with more than 85% of firm revenue now generated from six priority sectors: banking, energy, infrastructure, private capital, real estate and technology.

Global chair Karen Davies thanked clients and staff ahead of the firm's next chapter, and said: “I am excited about what this next stage will mean for our clients and people as we become a truly global firm.”

Due to the impending combination, the first full year financial reporting period under Ashurst Perkins Code will be in 2028.