Linklaters revenue increases by 2.1 per cent, driving 9.9 per cent spike in PEP

Linklaters revenue increases by 2.1 per cent, driving 9.9 per cent spike in PEP

Among UK's four global Magic Circle firms, Linklaters edges past Clifford Chance in terms of but stops behind Allen & Overy and Freshfields Bruckhaus Deringer

The Magic Circle firm Linklaters has reported a 2.1 per cent increase in its revenue to £1,674 million while profit per equity partner (PEP) jumped by 9.9 per cent to £1.773 million.

Linklaters was the last to post its results amongst the UK's four global Magic Circle firms. Paul Lewis, the newly installed firmwide managing partner, described the results as very strong.

"The world is evolving at pace, catalysed by the effects of the pandemic," said Lewis, who took over from Gideon Moore as managing partner last month," Lewis, who assumed his new role last month, said.

The results have placed Linklaters a percentage point ahead of Clifford Chance in terms of revenue growth achieved. However, among the global Magic Cricel firms, it is behind Allen & Overy and Freshfields Bruckhaus Deringer with both firms posting growth of 5 per cent.

Linklaters' pre-tax profit witnessed a spike by 12.2 per cent to £815.3 million. The firm has joined several other top law firms on both sides of the Atlantic to improve its financial performance during the COVID-19 pandemic: revenue edged up by 1.7 per cent last year while PEP declined by 5.1 per cent.

"Climate, technology and data are just some of the globe-spanning topics that will define the next decade and beyond. Leading businesses need advice from a leading global law firm, capable of providing top quality service consistently across multiple jurisdictions. We are committed to ensuring that Linklaters continues to be that firm," Lewis added.