Penningtons Manches Cooper reports continued growth and strategic progress

Penningtons Manches Cooper has reported another year of progress against its three-year strategy.

Marking its 17th consecutive year of growth, the firm recorded an increase in revenue to £125.7 million for 2025-26 financial year, with profit of £40.7 million. Profit per equity partner (PEP) was £530,000.

Growth was supported by strong performances across core and growth sectors, particularly private wealth, real estate, shipping and technology, as well as education, sports, media and creative, and life sciences, reflecting the ongoing strength of the firm’s sector-led strategy and the value clients place on specialist industry expertise.

International offices continued to play a significant role in its growth story, supporting clients on increasingly complex cross-border matters and strengthening relationships in key global markets.

CEO Helen Drayton commented:

“We’re pleased to follow last year’s strong results with another 12 months of good progress. Our profit and PEP remain at historically high levels as we continue to invest in our people, operations and infrastructure.

In line with our 2023-2026 strategic plan, our performance has not been driven by a single transformational moment; it has been built through consistent decisions across the firm. The opportunity now is to apply those same levers with even greater focus to unlock the next phase of growth.

Our resilience is rooted in the strength of our full-service offering. It enables us to join the dots across sectors and disciplines, bringing broader perspectives and deeper insight to increasingly complex client challenges. As those challenges become more interconnected, our ability to draw on expertise from across the firm remains a clear point of differentiation and a core element of our strategy.

Since launching our three-year strategy, we have increased revenue by 20%, grown profit by 27% and improved revenue per lawyer by 18%. These results demonstrate that our growth is not simply a product of scale, but of greater productivity, stronger profitability and a continued focus on delivering value to our clients. We are building a business that is both growing and becoming more efficient, creating a strong platform for future success.

We continue to invest in our future and support our long term ambitions through targeted lateral recruitment and the development of our own talent. Over the last year, it has been great to welcome several leading specialists to the partnership: employment partner Graham Green, banking and finance partner Naomi Roper, real estate disputes partner Sarah Finch, and medical negligence partner Robert Dransfield. We strengthened our UK regional platform through the promotion of Adam Crawford, Matilda Kingham, Eleanor Moodey and Rachel Taylor to partner, while Andrew Jago became an associate director. We also expanded our international shipping team, welcoming Mark Myles, a Master Mariner and experienced lawyer to our Singapore office, which is celebrating its 30th anniversary this year.

Our vision is to be the most human law firm. It reflects our belief that the real value of legal practice lies in people, judgement, care and trust. The foundations we have built through the successful delivery of our three-year strategic plan leave us well positioned for the future. With a clear focus, growing sector expertise, a strengthened international platform and continued investment across the business, we are confident in our ability to seize new opportunities and deliver sustainable, long-term growth.”

Strengthening operational infrastructure

Alongside its investment in people, the firm made a significant upgrade to its operational infrastructure. The implementation of Aderant Sierra is enhancing financial visibility, improving billing efficiency and strengthening the ability to make informed, data-driven decisions. The launch of a new website last December further strengthened the firm’s digital brand.

Enhancing social impact 

It also continued to invest in its wider responsibilities as a business and make positive contributions to local communities. This spans a number of initiatives, including flagship partnerships with the Bumblebee Conservation Trust and the International Garden Photographer of the Year competition, headline sponsorship of Surrey Sports Park and hands-on support for its SportsAbility Series, plus sponsorship of Cambridge & Coleridge Athletics Club and the annual Oxford Town & Gown race.

Delivering for clients: recent work highlights

• At a divisional level, the firm’s broad-based disputes group continues to go from strength to strength, being recognised as a ‘heavy hitter’ in The Lawyer’s Litigation Top 50 and several of its component teams being specifically commended in The Times Best Law Firms index. High profile cases include acting for the UK arm of India-based Dr Reddy’s, one of the world’s largest generic drugs companies.
• The shipping team remains highly active across both contentious and non-contentious matters. Its wide variety of work ranges from acting for a Tokyo-based shipping company in a multi-jurisdictional dispute worth USD 80 million to maritime experts in the Madrid office assisting Tenerife-based BlueNewables with launching Spain’s first offshore floating solar platform, marking a major milestone in the development of marine solar energy in Europe.
• Specialist teams in the real estate division saw strong momentum. For the housing team, this included a significant new appointment to The London Boroughs’ Legal Alliance Legal Services Framework and a place on Torus’ £6.48m framework, alongside new mandates for Honeycomb Group and Cambridge Housing Society. The team also advised Bernicia, a leading North East housing association, on a new £100 million loan facility, and the refinancing of an existing £20 million revolving credit facility, and Sovereign Network Group, one of the UK’s largest housing providers, on its £75 million sustainability notes issuance. Commercial real estate welcomed new client Song Capital and were instructed on the DoubleTree by Hilton London Hyde Park, the first hotel in the Westmont Hospitality management stable, and acted for Wheeldon 1867 on a strategic land agreement for development of up to 90 homes.
• Across tech and life sciences, our corporate team continued to advise on a steady pipeline of M&A and fundraising work. The team continued its prominent work for high growth university spin-outs included advising Trismik, Matta Labs and Densix on early-stage funding rounds, as well as acting for Accession Therapeutics on its £30.5 million Series A funding. They also supported clients’ international expansion, advising long-standing client Socotec UK & Ireland and Netherlands-based Your.Cloud on three acquisitions each, supported by cross-practice teams of specialists in tax, commercial, employment, pensions, and real estate. Other transactions included advising Goonhilly Earth Station on its acquisition by Intuitive Machines, a Nasdaq-listed aerospace company, acting for Tibidabo Scientific Industries on its acquisition of XCAM Scientific, advising Cryogatt Systems on the sale of its patent portfolio, and supporting long-term client SkinBioTherapeutics plc on a £4.6 million fundraising.
• An uptick in work in the sports sector most recently saw a multi-disciplinary team advise US-based Dawn Group International on its acquisition of National League club Tamworth Football Club, and leading global talent, and entertainment agency Gersh on its acquisition of UK-based football agency PLG, ahead of the launch of Gersh Football UK. Specialists in the sports group also continue to advise Gillingham Football club (the acquisition of which it had advised on in 2023) and its new majority owners in a dispute with the Club’s former chairman and associated parties.
• The private client and family teams won new ultra-high-net-worth clients in Asia and North America, advising on complex cross-border wealth structures, and delivering integrated tax, trust, immigration and property advice alongside high-value marital, asset and dispute matters.