CC receives post-audit profit boost

Clifford Chance has announced its audited results for the financial year 2005-06 which have adjusted its preliminary profit figures upwards.

Average profit per equity partner (PEP), reported earlier this year as £810,000, now comes in at £814,000. This represents a 25 per cent rise from the previous PEP figure of £615,000.

The revenue figure has been confirmed as increasing by 13 per cent to £1,029m from the previous year’s total of £914m.

According to The Lawyer UK100 Annual Report, Clifford Chance’s improved figures came partly on the back of a programme of cost-cutting, but also a rise in the revenue per lawyer (RPL), from £369,000 to £424,000. This closed the gap on Linklaters and Freshfields, which posted RPL figures of £451,000 and £438,000 respectively.

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