International legal practice Osborne Clarke announces a revenue of €525m for 23/24. This is a 19% increase on 22/23 (which was €442m).

  • International revenues were €525m for 23/24, 19% up from 22/23
  • Third US office opened in Miami, September 2023
  • 13 strategic partner hires and 17 promotions internationally, and growing teams across our priority sectors including ESG and energy and utilities

  • UK highlights:

    ◦ Income increased by 11% to £240.5m, from £217.3m in 22/23

    ◦ Net profit up 14% at £84.8m

    ◦ Biggest partner promotion round ever – 11 promotions 

 

Omar Al-Nuaimi, Osborne Clarke's International CEO, commented: "This is an excellent set of results and I'm particularly proud we've over-delivered on our €500m target a year early. It's a tribute to all the work of our international teams, who I'd like to thank for their efforts.

"A big highlight this year was opening our third US office in Miami. The US remains a very exciting market and important for our international clients, and our team has had a successful start in strengthening our relationships across the US, Latin America and Spain. 

"We're also building on our international ESG offering and have invested in growing our energy and utilities sector client teams across the UK, Germany, Italy and Poland. Holding ourselves accountable as well, we expect approval on our international near- and long-term commitments to the Science Based Targets very soon as we continue to reduce the carbon emissions across our business." 

UK

Osborne Clarke's UK income increased by 11% to £240.5m, from £217.3m in 22/23. The firm had a net profit of £84.8m, an increase of 14% compared to £74.7m in 2022/23.Profit per equity partner jumped 11% to £771k compared with £687k in 22/23.

Osborne Clarke increased revenue across all of its UK service lines, with double digit growth in Advisory; Disputes and Risk; and Projects, Real Estate and Finance.

Four of the firm's seven key UK sectors – life sciences and healthcare; retail and consumer; mobility and infrastructure; and energy and utilities – achieved double digit growth too. With strong results also across the built environment; and technology, media and comms sectors..

Conrad Davies, Osborne Clarke's UK Managing Partner, commented: "This time last year we committed the business to a number of key change and investment programmes aimed at growing our income and improving profitability. I'm delighted that these have really paid off.

"We're proud of what we've achieved and it's all down to the dedication and commitment of our teams. We set ourselves some challenging goals around productivity and efficiency – driving more focus into what we do and how we do it. It's all about asking our people to work smarter not harder. Ensuring more of our income falls to the bottom line gives us the ability to continue to invest heavily in our people and business, which is essential to keep pushing forward with our strategy and to deliver on our client promises.

"This year was our biggest partner promotions round in the last 10 years, with 11 being made-up in May. We also awarded all our UK colleagues with a 5% profit share* in June, and in August it will be the first year of our long-term incentive plan, rewarding high performers with bonuses up to 40% paid over three years."

International highlights include:

  • Innovative 3D client strategy comprising legal expertise, sector specialisms and key transformational trends, means our lawyers have a greater understanding of client needs and provide more contextual legal advice. The current focus is on AI, Greenwashing, Supply Chains and Logistics, all areas are cross-sector and service line, enabling more collaboration.
  • The firm continues to grow its client base across its key international sectors with mandates including Octopus Energy Generation, Swiss Life, Müller, Newcold, Canary Wharf Group, Arrow International Media and Zihipp. It was also confirmed on BT Group's new UK Legal Panel, having been highly commended for providing clear evidence of inclusion, equity and diversity.
  • The firm is investing in its Cloud-first IT strategy and is rolling out best in class practice management and integration software and systems. 
  • Launched targeted international recruitment hub providing prospective female partners insight into firm culture and diverse perspectives directly from our female partners.
  • Ranked as the number one European-headquartered legal practice for data and related services in the 2024 edition of the GDR 100. It is ranked at number six in the overall global table of law firms.
  • Chambers Europe 2024: Osborne Clarke ranks in 23 practice areas across seven European jurisdictions, plus six new lawyer rankings.
  • Law Firm of the Year, Energy Law at Juve Awards 2023.
  • International awards success for diversity and inclusion initiatives: UK won Award for Diversity and Inclusion at the 2024 LexisNexis Legal Awards and Germany was recognised at the azur Awards for its information campaigns, allyship programmes and awareness-raising diversity and inclusion training for employees.
  • Delivering measurable change in the UK through Gender Action Plan, growing female representation in Partnership 1%+ year-on-year since 2020; Race Action Plan: growing firm representation through targeted recruitment and inclusion investments.

Mandates included advising:

*The 5% profit share is based on annual salaries of all qualifying UK colleagues and paid in June 2024, with a £2,000 minimum payment and pro-rated for new starters. 

Share
Corporate communications and press contacts
If you are a journalist and would like comment or background from our legal experts, we can help. Our team will put you in touch with the best person. View a full list of our international press contacts by jurisdiction here.

Connect with one of our experts