Fieldfisher delivers strong financial results with double-digit revenue growth in 2023/2024

The firm, which adjusted its financial year-end from 30 April to 31 March ahead of HMRC basis period reform changes, reported robust figures over 11 months, comparing them against the same period in the previous financial year.

Headline Figures and Highlights:

• Revenue: Firm-wide revenue reached £359 million, a 10% increase from the previous financial year.
• Profit Per Equity Partner: Stands at £966,000, up 4% from the previous year.
• Practice Area Growth: Double-digit revenue growth was seen in Corporate, Dispute Resolution, Financial Markets and Products, Personal Injury and Medical Negligence, Regulatory, and Tax practices.
• European Network Performance: Significant revenue growth across the firm's European offices, particularly in Ireland, Germany, Luxembourg, and the UK.
• ALSs Growth: Fieldfisher Condor saw a 17% revenue increase, and Fieldfisher X achieved £3 million in revenue.

Managing Partner Robert Shooter highlighted the firm’s strategic focus on European expansion, collaboration, and ESG (Environmental, Social, and Governance) as key drivers of this year’s success. Shooter credited the firm’s culture of collaboration and innovation for sustaining its ambitious growth plans.

Practice Area and Industry Sector Highlights:

• Regulatory Practice: Achieved a standout 36% revenue increase. The team, known for handling complex investigations and public inquiries, represented clients like Euronet in a competition law claim against Mastercard and Visa, and supported Peloton on regulatory matters.
• Dispute Resolution: Increased revenue by 17%, handling significant cases such as the longest-running investigation in the Serious Fraud Office's history for Eurasian Natural Resources Corporation and the largest-value fraud trial ever in the Commercial Court.
• Financial Markets and Products: Saw a 14% revenue growth, working on complex matters including a £2 billion longevity swap for Munich Re and advising on LIBOR transition restructurings worth approximately £20 billion.
• Corporate Practice: Recorded a 10% revenue increase, with notable deals like SigmaRoc's US$1.1 billion acquisition of CRH's European lime and limestone business.
• Personal Injury and Medical Negligence: Increased revenue by 15%, achieving significant outcomes such as a £10.5 million settlement for a severe brain injury case.

International Performance and Developments:

Fieldfisher recorded a 14% revenue growth in the UK, with strong performances in Manchester, Birmingham, and London. The German offices, comprising Berlin, Dusseldorf, Frankfurt, Hamburg, and Munich, experienced a 20% revenue increase, becoming the firm's fastest-growing international operation. Impressive growth was also seen in Ireland (10%) and Luxembourg (81%), with a shift towards advising multinational clients on cross-border matters.

The firm’s new Vienna office, which opened in June 2023, has bolstered its presence in Eastern Europe, offering additional growth prospects. A strategic relaunch of Fieldfisher Italy as a fully integrated part of its international network has already led to growth and high-profile client engagements.

Fieldfisher’s strategy includes significant investment in talent, with 22 leading specialists joining the firm in the last 12 months. These include a competition litigation team in London, arbitration specialists in Spain and the Netherlands, Technology and Data partners in London, Dublin, and Paris, and a leading Media team in Germany.

Progress Against the 2022-2025 Firm Strategy:

Fieldfisher’s ambition to become Europe’s leading law firm has been significantly advanced. Key strategic themes such as collaboration were reinforced through the creation of a new Partner Collaboration Framework. The firm’s core sectors—energy and natural resources, technology, life sciences, and financial services—delivered impressive results, advising clients on critical sectoral issues including energy transition strategies, AI, digital health regulations, and crypto-assets.

The firm’s ESG commitment was enhanced with the appointment of ESG Director Nicole Bigby. A highlight of the firm’s ESG efforts was the One Firm Action fundraising initiative, which raised £526,000 for 15 charities, demonstrating Fieldfisher’s commitment to societal impact through collective action.

Fieldfisher’s strong financial performance and strategic advancements reflect its full-service offering’s strength and the firm’s ongoing ambition to succeed and grow in the competitive legal market.