Two leading international law firms post double-digit profit rises, citing strategic expansion and tech investment
Profits at two of the UK’s leading international law firms have climbed sharply, with DAC Beachcroft and Taylor Wessing reporting strong financial performance for the 2024–25 financial year. The firms, which operate across a wide range of sectors and jurisdictions, credited strategic investments, sector-focused growth, and increasing use of technology for their robust results.
DAC Beachcroft posted a 7.1% increase in profit before tax, reaching £76 million. Turnover rose 6.4% to £348.1m, while profit per equity partner crossed £750,000 for the first time—marking a significant milestone for the firm. Managing partner David Pollitt said the firm’s balanced approach had fuelled this sustained growth.
“Establishing balance in our business has been the key to driving growth in recent years,” Pollitt stated. “We have focused on strengthening our existing core sectors of Insurance, Health and Real Estate, while at the same time expanding our full-service offering through our business advisory group and building out adjacencies such as financial services, technology, and shipping, trade and commodities.”
The firm also announced that Helen Faulkner, partner and head of insurance, will succeed Pollitt as managing partner in November. Faulkner is expected to continue the firm’s modernisation drive.
Embed from Getty Images“DACB is in an incredibly strong position,” Faulkner said. “We are investing to support growth, remain competitive and futureproof our business. That means modernising our processes and systems, introducing further AI tools, and using technology strategically to improve client service.”
Across the City, Taylor Wessing posted even more impressive numbers. UK profits rose by 12.3% to £103 million, while revenue jumped 15% to £283.7m. Globally, the firm reported a 10.1% rise in revenue to a record £526.2m, with profit per equity partner soaring 21% to £1.1 million.
UK managing partner and global co-chair Shane Gleghorn attributed the growth to the firm’s focus on premium work in complex and high-value matters.
“We are delighted to see strong growth across our business,” Gleghorn said. “The strategy that we implemented is proving effective. Our ongoing focus on premium, high-profile transactions, complex disputes and critical regulatory work in our core sectors is paying dividends.”
The firm has notably increased its activity in sectors such as technology, life sciences, and private wealth, capitalising on client demand for specialised regulatory and transactional advice. Gleghorn also praised the firm’s “internationally connected teams” and its ability to deliver for clients across borders.
The positive results from both firms come at the start of the 2024–25 results season, a period closely watched by legal sector analysts for trends in profitability, talent retention, and market expansion. Early indications suggest that well-diversified firms with strong sector focus and tech-forward strategies are outperforming peers amid a volatile global economy.
With DAC Beachcroft investing in artificial intelligence and Taylor Wessing continuing to capitalise on premium regulatory work, the year ahead could see even further divergence between firms that embrace innovation and those that remain static.
