Clifford Chance turnover breaks £1bn mark

Clifford Chance is predicting revenues to break through the £1bn mark for the 2005-06 financial year, while average profits per equity partner (PEP) are expected to reach more than £810,000.

Turnover is expected to grow 13 per cent to £1.03bn, compared to £914m in 2004-05.

As first revealed by The Lawyer this week (29 May), average PEP is due to increase by 24 per cent to £810,000, up from £615,000 last year. The figures are set to be finalised in July.

Global managing partner David Childs said in a statement: “We have achieved strong growth in revenues and in our profitability. We are pleased with the performance of each of our geographic regions and believe they are well positioned for further growth.

“We have had a great year across all our practices, and in M&A were rated number one globally for the first time in the Thomson [Financial] league tables,” he continued.