Linklaters has become the fourth Magic Circle firm to post its 2015/16 financial results, reporting a 3.1 per cent rise in turnover to £1.31bn.
The firgure marks the firm’s strongest result since 2007/08 and the first time that it has crossed the £1.3bn turnover threshold. Linklaters has pipped fellow Magic Circle firms Clifford Chance and Allen & Overy in terms of revenue growth but has fallen short of the 6.6 per cent lift reported by Freshfields Bruckhaus Deringer yesterday.
Net profit has also hit a record high, up 6.8 per cent to £612m for 2015/16. Average profit per equity partner is up 2.5 per cent to £1.45m, with lower-end equity partners up 4.8 per cent to £745,000 and top-tier partners up 3.3 per cent to £1.86m. Strong performances in the firm’s M&A, project finance, dispute resolution and TMT practices buoyed the results.