Clifford Chance reports 27 per cent boost in profits

Clifford Chance has announced a 27 per cent jump in profits for equity partners, who took home an average of £733,000 in the 2009-10 financial year. Meanwhile, the firm’s turnover fell by 5 per cent to £1.197 billion from last year's figure of £1.262 billion. The firm reduced costs by 10 per cent, or around £100m. These figures see Clifford Chance take top rank among magic circle firms in terms of turnover, after Linklaters – who reported the highest revenues last financial year – reported 7 per cent drop in profits and a 9% decrease in revenues to £1.18 billion.

Clifford Chance reports 27 per cent boost in profits legalweek.com Wed, Jul 7, 2010