Freshfields Bruckhaus Deringer and Linklaters have gone public with their results, showing the shock news that Freshfields has pipped its magic circle rival in the revenue stakes with a 7.2 per cent rise to £1.139bn.
Linklaters figures are kind of up and kind of down: it has reported a 1 per cent like-for-like rise in revenue, but this is calculated based on a figure for last year that strips out fees from its now-defunct associations in Brazil and Singapore. The raw figure dropped 1 per cent. Allen & Overy is already public with its small revenue increase that puts it behind Freshfields. Clifford Chance bears all on Monday.
Norton Rose has also announced its pre-Fulbright & Jaworski global revenue of £845m, up 4 per cent taking into account the depreciation of the South African rand against sterling, while Ashurst’s flat turnover comes alongside a 9 per cent PEP drop and 7.3 per cent fall in the value of each equity point.
Revenue figures are generally good across the top 50 despite a few sharp PEP falls, so the predicted doom and gloom has not quite come about.
TheLawyer.com has all the news, views and analysis you need to keep up to date. Share your views on our Financial Insight page, where we will provide the inside track on what those all important figures really mean – kicking off with Macfarlanes.
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