Linklaters cites depressed M&A market for 8.8% drop in revenue
Linklaters has reported an 8.8 per cent decline in revenue for the 2009-10 financial year. The top UK firm attributes the decline to the stalling the global mergers and acquisitions market, which saw 38 per cent less deals in 2009.
“M&A is about 40 percent of our business,” the firm’s managing partner Simon Davies said. “Our profitability has been quite resilient taking that into account.”
The firm’s revenue was 1.18 billion pounds, while profit per equity partner fell 6.8 per cent to 1.2 million pounds, and overall profit was down 1.2 per cent.