Simmons & Simmons reports 8% rise in profits
International law firm Simmons & Simmons says that expansion into countries such as Ireland helped to boost its profits in the year to the end of April.
The London-based firm reported revenue of Stg £465 million for the year – up 6% from the previous year. Profits grew by 8% to Stg £185 million, and profit per partner moved up 2% to just over Stg £1 million.
It attributed its growth to what it called an “ambitious” investment and hiring strategy, as well as a 25% increase in external income over the past year.
Internal promotions
Simmons & Simmons said that its external income had jumped by 67% over the past three years. As well as Ireland, where it set up an office in 2018 as part of a post-Brexit wave, the firm has expanded in Asia and Germany.
The firm promoted 13 of its lawyers to partners during the year – including two in its Dublin office.
“Our figures for 2021/22 reflect the success of the ambitious growth strategy that Simmons has embarked on, demonstrated this year by strategically significant expansion across Europe – particularly in Germany – and of course our plans for a US office,” said managing partner Jeremy Hoyland.
Simmons & Simmons in Dublin is led by Fionán Breathnach (pictured).