UK legal firm with Edinburgh and Glasgow offices sees profit per partner jump 41%
Shoosmiths, the UK-wide law firm with offices in Edinburgh and Glasgow, has reported higher fee income and profits as the pandemic proved “a test of resilience and character”.
The firm described its financial performance for 2020/21 as “strong”, with revenue up 9 per cent year-on-year to £167.9 million, net profit up 31 per cent to £55.4m and profit per equity partner 41 per cent higher at £658,000.
Chief executive Simon Boss said: “In an extraordinary year these results represent the dedication our people have shown to our clients and their ability to adapt to a ‘new normal’. We are all extremely proud of how far Shoosmiths has come in the last year.
“As our impact report shows, the pandemic in this last year has been a test of resilience and character. We can confidently say our values, which have been in place for 20 years, never fail us and have guided us throughout this time, further underpinning what is important to us as a firm; being a responsible business that makes a positive contribution to society.”
He added: “Throughout [the past year] we also made significant progress towards our ESG [environmental, social and governance] goals. As a firm having an impact report allows us to have key pieces of information in one place, take stock, analyse our impact and use our knowledge as building blocks for the days, months and years to come.”
The firm operates out of 13 locations across the UK, with 210 partners and 1,400-plus lawyers and business support employees.