Linklaters has posted decreases in both revenues and profits for the last financial year as the magic circle firm becomes the latest of the UK’s elite to announce its 2009-10 results.

The firm saw profits per equity partner (PEP) fall by 7% to £1.2m, while turnover dropped by 9% from £1.3bn in 2008-09 to a new mark of £1.18bn. Pre-tax profit decreased by 1.2% to £507.2m.