More leading law firms reveal impressive revenue growth

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Dentons, Mishcon de Reya LLP and Stevens & Bolton LLP have all revealed revenue growth for the 2023/24 financial year.

Revenue was up 6% to £280.5 million for global law firm Dentons due to the “strategic choices” it’s made over the past three years. More specifically, the firm’s UK disputes and regulatory division saw revenue jump 15% due to the expansion of the team, including 11 new partners joining the UK team and 18 joining the team across the UK, Ireland and Middle East region. When looking at the regions, the Middle East saw revenue grow by 22%, thanks in part to the “significant” 35% growth in revenue in Saudi Arabia. Meanwhile, the firm’s Dubin office reported revenue growth of 18%.

Both Mishcon de Reya and Stevens & Bolton saw double-digit revenue growth at 17% and 20%, respectively. Marking the firm’s 150th anniversary, Stevens & Bolton experienced growth across the board with its net profit also up by 36%. The firm shortened its financial year to 11 months to accommodate basis period reform, so when the results are grossed-up on a 12-month basis, revenue grew 18% to £42.3 million, net profit grew 31% to £16.7 million and profit per equity partner was up by 22%.

Doug Williams, the firm’s chief operating officer, said: “While the firm has demonstrated consistent and sustainable performance, we recognise the increasing pace of change in the legal market and shifting needs of both our clients and our people and have evolved our ambition and approach to match.”

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