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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Linklaters has announced record figures for this financial year, with revenues overtaking a billion for the first time and average profit per equity partner (PEP) rising 21.5 per cent to £1.29m.
Top partners at Linklaters will earn £1.62m, up 22.7 per cent from last year’s figure of £1.32m. First-year full equity partners will earn £647,000.
Linklaters managing partner Tony Angel told The Lawyer: “Over the last three years we’ve tried to focus on complex deals and cross-border work. In fact, 65 per cent of our income involves deals from more than one office now – it was 40 per cent three years ago.”
Statistics released by the firm, which is preparing to convert to a limited liability partnership, show that net profit rocketed by 28.6 per cent to £490m. Of that net profit, £363m was attributed to partners on full equity entitlement, averaging as £1.29m.
Several jurisdictions, such as Germany, operate on reduced equity entitlement where the value of a point is worth 70 per cent of the points in London. The total amount distributed to partners on reduced entitlement was £127m, making an average of £876,000.
Revenues increased at a similar rate across the board, with London’s turnover growth almost matching the firm’s at 18 per cent.
Angel said: “If you look back over three years, our income has risen 57 per cent, net profit has risen 108 per cent and PEP has risen 93 per cent.”