Top London firms report strong growth
Top London firms have reported a good year, with revenues and profits on the up.
Allen & Overy posted a 7 per cent increase in revenue to £1.12bn, and an 8.3% hike in net profits to £420m. The results can be attributed in large part to the firm’s efforts to expand internationally, over 60 per cent of turnover now being generated overseas.
Revenues at Herbert Smith increased by 3.4 per cent to $465m and profits per partner jumped 4% to £900k. Clifford Chance partners saw an 8 per cent increase in PEP, which topped £1m for the first time since 2008. Revenue grew marginally by 2 per cent £1.2bn. Linklaters increased profits by 1.5 per cent, alongside a 3.3 per cent increase in PEP to £1.1m.
Freshfields Bruckhaus Deringer did not grow like its rivals this year, reporting static revenue and a 6.9% drop in PEP to the still considerable sum of £1.3m.
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