Expansive Simmons shrugs off sluggish post-Lehman form to drive income up 12% to £354m
25 Jun 2018
This article first appeared in Legal Business on 25 June 2018.
Simmons & Simmons has posted one of its strongest results since the banking crisis, with the City firm announcing a 12% hike in revenues to hit £354m. After a year of sustained recruitment and foreign expansion, the 280-partner firm also saw net profits surge 19% to £110m and profit per equity partner (PEP) up 8% to £686,000.
The headline 12% growth rate comes after a 7% increase for 2016/17 and looks set to be one of the most robust showings in its weight class this year even against the backdrop of active markets. In common with many large City firms over the last decade, Simmons has struggled to sustain strong growth.
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