Clyde & Co’s revenue increases 10% as client demand grows.

London 12 July 2024: Global law firm Clyde & Co has announced its results for the financial year to 30 April 2024. Firmwide revenues grew 10% on a constant currency basis to £845 million.

Profit at the firm increased 3% on the previous year to £174.4 million. 

During FY23/24 the firm added 32 partners through lateral hires or internal promotions across its regions, sectors, and practice groupings. 

Clyde & Co’s expansion over the last year includes the opening of offices in Warsaw (Poland) and Jeddah (Kingdom of Saudi Arabia - KSA). The 23-strong Polish team brings with it a multidisciplinary corporate and energy offering to Clyde & Co, with a particular focus on renewables, and continues the firm’s growth in continental Europe following its opening in Milan in 2023. The opening of a second office in KSA, in Jeddah, as well as the granting of a Regional Headquarters License by the Saudi Ministry of Investment, further strengthens its footprint in the Kingdom where it has been operating for fifteen years. 

The UK region grew 9% and now accounts for 47% of the firm’s revenue with Europe its fastest growing region, with revenues up 17%. North America now accounts for 21.5% of the firm's revenue, Middle East and Africa 12%, Asia Pacific 11.5%, and Latin America 2%. 

Matthew Kelsall, Clyde & Co’s Chief Executive Officer, comments: “Our results prove once again that our sector focused, geographically hedged model is in good health and that clients continue to value our market-leading offerings. Our growth this year was driven in large part by our underlying business which benefited from strong client demand for our services across our disciplines and geographies. 

In the past year we have continued to invest in modernisation and made several strategic hires in energy, renewables, regulatory, finance and commercial disputes, a trend that will continue as we seek to maintain a balance across our sectors and practices.”

Carolena Gordon, Clyde & Co’s Senior Partner, comments: “It is very pleasing to be able to post another year of significant growth for the firm, which is the result of our continued laser focus on understanding and responding to the changing needs of our clients. These results are testament to the hard work of colleagues across the firm who work tirelessly to serve our clients and our firm to the highest standards. 

In the last financial year Clyde & Co has formalised a global Regulatory & Investigations Practice Group to help clients prepare for, navigate, and respond to the regulatory risks they face. Similarly, it has formed an AI working group, a cross-discipline offering to help clients address the opportunities, risks, and challenges of AI.