Linklaters has replaced Clifford Chance as the largest firm in the UK by revenue after announcing its 2008-09 results.

The magic circle firm reported virtually static turnover of £1.298bn for 2008-09, compared with £1.293bn last year. Despite the lack of growth, the revenue performance was enough to edge Linklaters slightly ahead of Freshfields Bruckhaus Deringer (see story, below).