Ashurst announces financial results for year ended 30 April 2017

• Revenue of £541 million (£505 million in 2016)
• Average profit per equity partner of £672,000 (£603,000 in 2016)

Paul Jenkins, managing partner of Ashurst, said:

"We have seen a strong performance globally, with increased revenue and profitability. This is a pleasing result in context of the economic and political uncertainty in many of the markets in which we operate. A consistent focus on driving revenue and lifting profitability across the firm overseen by the new management team has been extremely effective.

There has been particularly good growth in our projects and disputes businesses. M&A has been especially strong in APAC and the firm has also benefited from the resurgence in the structured finance markets. Overall, APAC delivered impressive results, in particular in Australia and China, and we have also delivered an excellent performance in the Middle East. Despite the Brexit-related slowdown in transactional activity in the first half, we have also seen very encouraging levels of activity in the UK.

We have also continued to invest in the business, making a number of strategic lateral hires and promoting 19 new partners from our associate team. And we have successfully rolled out our new practice management system.

There is very positive momentum and confidence in the business on which we will continue to build throughout the rest of the year. By continuing to focus on our clients, efficiency and high performance, I have no doubt we will have another year of success and growth." 

Representative mandates:

• IFM Investors and AustralianSuper on the A$16.189 billion acquisition of 50.4% of Ausgrid 
• Berendsen on a £2 billion takeover bid by Elis
• China Development Bank on the approximate US$4.5 billion financing for the Jakarta-Bandung High Speed Rail Project
• Crown Resorts' A$1.9 billion sell-down of interests in Melco Crown Entertainment 
• Daiwa in its defence of a claim by SHL for breach of duty and dishonesty
• Edify Energy on the completion of Australia's largest single solar project financing
• EnQuest on the largest and most complex recent European oil company restructuring
• Fargo-Moorhead Flood Diversion Project, the first flood diversion channel in North America to be procured as a P3
• CGN on its investment into Hinkley Point C, the largest ever Chinese investment into the UK
• Lamprell on a major US$5.2 billion Saudi maritime yard joint venture
• Lloyds Banking Group on the UK market investigation relating to personal and business current accounts and SME lending
• Nippon Life's A$2.4 billion acquisition of MLC
• Studio City's US$1.2 billion high yield bond offering
• An international bank consortium on the €1.3 billion A6 motorway project in Germany