Freshfields Bruckhaus Deringer has confirmed a 19% rise in profits that will take the City giant’s average partner profits to £832,000. The magic circle firm last week said that its average partner profits had risen from £700,000 to £832,000 in its 2005-06 year, while turnover rose 13% to hit £882m. Freshfields expects the top end of the equity to reach £975,000, up 14% from £860,000 last year. Despite the performance, Freshfields has been outpaced in growth by several of its peers with Linklaters and Clifford Chance both announcing sharper increases in profitability in 2005-06.
First reported on legalweek.com (1 June).
