Magic circle firms give a solid performance in 2011-12
Four of the five Magic Circle firms have released their financial results, with decent news all round and fairly excellent news of equity partners.
Allen & Overy posted a 6 per cent increase in revenues to almost £1.2 billion, with PEP remaining steady at £1.1 million. Clifford Chance saw revenue rise by 7 per cent to £1.3 billion, while the average PEP came in at £1.078 million.
Freshfields’ revenue was fairly flat at £1.139 billion, compared to £1.140 billion last year. The firm’s PEP has dropped 1 per cent to an average of £1.299 million.
And Linklaters reported a marginal 0.6% increase in revenue, while keeping quiet on the issue of PEP for now.
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