Clifford Chance (CC) has posted a 10% drop in average partner profits for its latest financial year with revenues at the world’s largest law firm roughly flat.
The results see average partner profits of £639,000, against a 2001-02 average of £714,000. Over the same period turnover fell slightly from £983m to £978m.
The figures are the latest in a string of subdued results from CC’s London rivals, with many leading City firms this year facing falls in profits and income in the wake of the prolonged slowdown in corporate activity.
