The top 10 City outfit today (6 May) announced that revenue was up by 16% from last year’s mark of £250.4m to a new high of £290m for 2007-08.
Although a final figure for profits per equity partner (PEP) has yet to be calculated, Simmons indicated that it expects average profits to be well over £600,000 – representing an increase of at least 13% on last year’s PEP of £532,000.
Commenting on the results, Simmons managing partner Mark Dawkins (pictured) told Legal Week: “All regions and practices performed pretty well. Importantly, we didn’t see anything fall off a cliff.
“We maintained momentum in some of key transactional areas. Corporate has been strong but practices like intellectual property and litigation have become much busier.”
The news means Simmons - which has yet to announce its internal promotions for 2008 - becomes the first leading City firm to reveal its financial results for the last 12 months.
However, regional leader Browne Jacobson last week announced its own results for 2007-08, with the