Freshfields posts 11% drop in revenue
Freshfields Bruckhaus Deringer has posted an 11 per cent drop in revenue for the 2009-10 financial year, bringing in £1.14 billion. The average profit per equity partner was marginally lower than last year, with a 2.6 per cent drop from £1.44 million to £1.41 million.
This year’s figures see Freshfields move from second to third place in the ranking of UK firms by turnover, after Clifford Chance moved up to take the top rank.
Chief executive Ted Burke said: “Like many other businesses, we’ve seen a downward trend in our financial results over the past year but, given the very difficult markets and ongoing economic uncertainty, the results are relatively healthy.”