HSF’s bosses surprised by law firm’s tepid result, leaked meeting shows

Detailed summary

The Australian branch of global law firm HSF Kramer grew its profits by just 1.5 per cent last financial year, four times less than the expected 6 per cent.

Profit growth at the Australian branch of Herbert Smith Freehills Kramer was just one quarter of what the global giant had predicted for 2026, in a year of poorer-than-expected productivity and smaller salary increases, leaked data from the top-tier law firm shows.

The firm’s local revenue was up only 5 per cent, while profit grew just 1.5 per cent – well below the expected 6 per cent – and lawyers undershot their billing targets, according to speakers at an internal meeting held to discuss the firm’s 2025-2026 performance.

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