Shoosmiths hits £80m profit, tops £1m PEP for second time

Shoosmiths has recorded record financial results hitting £80 million in profit for FY25/26, a 4% increase on last year.

The firm also exceeded £1 million in profits per equity partner for the second consecutive year, a milestone it unlocked for the first time last year when its PEP skyrocketed by 30%.

The firm pointed to its investment in technology and high-value work across its “three key pillars” of corporate, litigation and real estate to explain this year’s results.

Behind the numbers

The firm’s serious injury business was acquired by PE-backed Fletchers last July. Shoosmiths said that excluding contributions from the divested business, turnover is up 5% and profit is up 11%.

“The business remains highly focused and disciplined, with profit growth again outpacing revenue growth,” said chief executive David Jackson.

“That matters because it gives us the capacity to keep investing in our people and technology, so we can deliver even better outcomes for our clients.”

The firm recently announced the rollout of Project Apollo, a generative AI contract review tool it built with Microsoft. 

‘A clear signal’

Jackson said the firm is sending ‘a clear signal’ to the market about where the firm is headed.
He said the firm is "increasingly focused on complex, higher-value work where clients need judgement, pace and confidence from their advisers”.

The past year has been one of aggressive investment in talent and AI at Shoosmiths as it also pursues international expansion.

In September last year, the firm hired former DLA Piper boss Simon Levine as a board adviser to assist the firm with its growth strategy.

Over the past fiscal year, it hired 23 partners across corporate, real estate, litigation and other practices, including PE duo Tim Nye and Alison Chivers from Trowers & Hamlins in London.