Freshfields and Linklaters post flat financial results
Freshfields and Linklaters have posted their financial results, with neither firm making an outstanding performance in 2011-12.
Linklaters saw a marginal increase in revenues, which rose by 0.6 per cent to £1.2bn, while pre-tax profits rose by 1.2 per cent to £520.8m.
Managing partner Simon Davies said the firm “continued to face volatile and challenging conditions amid wider economic strains.” He added that the firm owes the stability of its revenue results to the strong performance of the litigation, competition and regulation groups, along with growth in developing markets.
At Freshfields turnover remained flat at £1.14bn, while profits per equity partner dipped by one per cent to £1.3m.
Managing partner Ted Burke said the firm had seen “a good year, especially when you consider the impact of the sovereign debt crises on transactional activity”.