Ashurst has reported an 11% rise in annual revenue to £1.152 billion in its final full financial year before its planned combination with Perkins Coie, giving the London-founded firm a stronger financial platform ahead of one of the legal market’s most closely watched transatlantic mergers.
The firm said revenue for the year ended 30 April 2026 increased from £1.034 billion in FY25, while profit per equity partner rose 15% to £1.592 million. The results mark Ashurst’s tenth consecutive year of revenue growth and come before the launch of Ashurst Perkins Coie, the combined firm expected to bring together around 3,000 lawyers across more than 50 offices.
For law firm leaders, the timing matters: merger strategy is often judged not only by geographic ambition, but by whether both sides enter integration with momentum rather than repair work.
Market reaction to large transatlantic combinations has become more demanding since Allen & Overy’s tie-up with Shearman & Sterling and Herbert Smith Freehills’ combination with Kramer Levin sharpened attention on scale, US capability and sector alignment. Ashurst is presenting its numbers as evidence that it is not using the Perkins Coie deal to mask weakness.
The firm reported double-digit growth across the Middle East, the US, Continental Europe, Asia and the UK, with the Disputes, Investigations & Advisory division growing 21% in the UK and Projects & Energy Transition showing strength across the US, France, the UK and the Middle East.
The figures also show where Ashurst wants the combined firm to compete. Corporate Transactions grew 15% globally, while Finance, Funds & Restructuring also rose 15%. The global Financial Regulatory practice delivered double-digit growth in France and the UK, and Ashurst said more than 85% of revenue now comes from six priority industries: banks, energy, infrastructure, private capital, real estate and technology.
That sector discipline will be important for in-house counsel assessing whether Ashurst Perkins Coie can offer a coherent global platform rather than a larger but uneven network.
Ashurst also used the announcement to point to its technology and innovation credentials. Ashurst Advance recorded an 11% increase in global revenue, while AI and technology-enabled services grew by more than 50%. The firm cited work for clients including the UK Government, Zepz, Westpac, BNP Paribas, Meta, Google, Google DeepMind, Blackstone and The Crown Estate across financial markets, infrastructure, technology, real estate and disputes mandates.
Paul Jenkins, Ashurst’s Global CEO, framed the results as a financial foundation for the next stage of growth, while Global Chair Karen Davies said the firm was entering the combination with strong regional performance and client demand. The first full-year reporting period for Ashurst Perkins Coie is expected in 2028, meaning clients, partners and rival firms will soon be judging whether Ashurst and Perkins Coie can turn merger scale into sustained cross-border profitability.