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Kennedys has achieved a first: it has hurdled past the £200 million mark in terms of revenue.
For what it called a record-breaking 2018/19, Kennedys posted £218 million in turnover – an 11% jump compared to the previous financial year.
Broken down into markets, the company’s revenue rose 8% to £126 million in the UK; 16% to £35.9 million in the US; and 27% to £35.7 million in Asia-Pacific. Meanwhile, in Latin America turnover more than doubled to £6.2 million.
The results were partly attributed to another milestone, which was the insurance law firm’s headcount rising to more than 2,000. According to Kennedys, its numbers worldwide grew 7%.
“If 2017/18 was about expansion, 2018/19 has been about successful consolidation and innovation,” stated Kennedys senior partner Nick Thomas. “What these figures tell us is that we have made the right choices and that our global strategy, to be the go-to firm for the insurance sector and to provide the best on-the-ground capability where our clients need it, is working.
“Alongside this, we have continued to invest heavily in innovation, having rolled out our award-winning Kennedys Toolkit in the US, Bermuda, Hong Kong, and Australia. Clients have been hugely receptive to being shown ways in which our technology can both empower their claims teams and save them money.”
Thomas added that understanding what puts clients under pressure enables them to tailor solutions which improve the delivery of legal services.
