Freshfields reports 1% revenue growth
Freshfields Bruckhaus Deringer has reported a 1 per cent increase in revenue in the 2013-14 financial year, bringing in a total of £1.232bn, while average profit per equity partner increased by 6 per cent in the same period, from £1.398m to £1.48m.
Net profit rose by 5 per cent, from £548m to £578m.
The results mark the firm’s second consecutive year of growth, after three years of contraction: the firm’s revenue fell by 11.5 per cent from £1.287bn in 2008/09 to £1.139bn in 2011-12. Net profit dropped by 11.3 per cent during the same period, from £603m in 2008-09 to £535m in 2011-12.
The growth seen in the last 12 months was largely due to an increase in transactional work in Asia and the US, and an increase in disputes work in the US.