Revenue and profits up at Simmons, firm credits focus on core sectors

Simmons & Simmons has reported a 7% rise in revenue to £615 million for the 2024/25 financial year, alongside a 5% increase in PEP, continuing its impressive upward trajectory over recent years.

PEP rose to £1.13 million, while overall profit grew 6% to £215 million. The results mark a 50% increase in PEP and a 70% rise in profit over the past five years. Revenue, meanwhile, has also climbed 50% in that time.

The firm pointed to strong performance across its four key sectors - asset management and investment funds, financial institutions, healthcare and life sciences, and TMT - which together now account for more than 80% of total revenue. All four sectors posted growth of 7-8%.

The firm expanded its presence in the Gulf region this year, opening a new office in Riyadh in June and confirming plans for an Abu Dhabi reaunch earlier in July.

Investment in AI has also been a focus, with the firm pointing to the successful internal rollout of its own in-house LLM, Percy, which it says has been widely adopted across teams and commended by Microsoft.

In March, Simmons announced that it will move its London office to 25 Finsbury Circus in 2030 - ending a nearly 30-year run at Citypoint.

What they said

Managing partner Emily Monastiriotis said: "The growth we have seen in this last financial year reflects the success of our highly effective sector strategy and our decision to make a series of strategic investments across the firm.

"This includes supporting generative AI adoption and upskilling our people, investing in partners across our global practices, and further building our international presence through office expansions. These investments have all further enhanced our client offering and our ability to provide first-class advice on some of the most high-profile, complex, cross-border mandates.

"Huge credit for our financial results should go to all the talent at our firm."