Linklaters pushes ahead with revenues increase

first_imgMagic circle firm Linklaters today reported a slight increase in revenues to £1.30bn, placing it ahead of fellow magic circle firms Clifford Chance and Freshfields. Linklaters profits per equity partner (PEP) stood at £1.30m for the year to 30 April 2009, a fall of 9.6% on last year. The firm also reported a 9% fall in profits to £514m. On Wednesday, Clifford Chance, formerly the largest firm in the world by turnover, reported revenues down 5%, from £1.33bn to £1.26bn. On Thursday, Freshfields reported revenues of £1.29bn, up 9% from £1.18bn in 2007/08. US firm Skadden billed £1.33bn in 2008, making it the top earner in the world. Linklaters managing partner Simon Davies said: ‘Our results reflect exceptional circumstances. Clients have turned to us in the crisis to resolve issues of great magnitude and complexity. Often we have fielded substantial teams from many jurisdictions and with expertise in many areas of law. ‘The results are a credit to our people and their outstanding teamwork, creativity and commitment. This will stand us in good stead to work closely with our clients as together we face a challenging year ahead.’ Magic circle firm Allen & Overy is expected to report its results next week. The fifth magic circle firm, Slaughter and May, does not publish financial results.last_img