Last week Brodies announced its fifth consecutive year of growth with turnover increasing 11 per cent to £57.9m and profit up 14 per cent to £27.1m, but despite these positive results the firm’s costs also soared.
On Wednesday (8 July) Freshfields Bruckhaus Deringer became the final magic circle firm to reveal 2014/15 financials. So what have we learned about the economic health of the top tier?
After years of chasing its rivals, Allen & Overy (A&O) has displaced Linklaters as – for the time being – as the second-largest magic circle firm.
Slater & Gordon has announced that group revenue has soared 27 per cent from A$411.1m to A$521.9m (£242.9m) for the 2014/15 financial year.
CMS’s UK arm has saved around €100m (£72m) partly as a result of its move last month to new state-of-the-art headquarters at Cannon Place along with its business services deal with outsourced service provider Integreon.
Baker & McKenzie has posted a 4 per cent drop from $2.54bn to $2.43bn in global turnover for the 2014/15 financial year, following record figures that made it the largest firm in the world by revenue.
Scotland’s Burness Paull has again rewarded its staff with a bonus after a strong set of financial results.
Irwin Mitchell has announced a 3.9 per cent rise in turnover for 2014/15 along with a 6 per cent increase in profit before tax in the wake of another acquisitive year.