HFW posts strong financial results as international expansion continues
HFW's Piraeus office posted 15% revenue gains this year
Firm sees healthy rise in profits and double-digit PEP gains as sector-focus pays off
HFW posted an 11% jump in profit per equity partner (PEP) at the end of the 2020 financial year, as it reported strong growth amid its ongoing international expansion.
PEP rose to £526,000, with revenues up 9% to £195m and net profit coming in at £47m. The firm also recorded rises in both revenue per lawyer and profit per lawyer to £389,000 and £94,000 respectively, citing results seen by some as a broader and fairer measure of a firm’s overall financial metrics.
Richard Crump, the firm’s global senior partner, said: “We are very pleased to see our sector-focused strategy and sustained international expansion continue to drive growth across the business.”
Crump was re-elected to a fifth five-year term last year.
The firm’s revenue growth follows an extended period of international expansion, in which revenues have increased by 40% in the last five years, with more than 60% of the firm’s revenue generated outside the UK, compared to 35% 10 years ago.
The firm has also broadened its transactional offerings, adding 20 partners in two years. These included a rare team move in corporate finance in Hong Kong, while it strengthened its disputes practice, most recently with a civil fraud and insolvency partner hire from Norton Rose Fulbright in London back in May.
The firm had previously announced a six-partner promotions ro....