With Linklaters and Freshfields Bruckhaus Deringer this week becoming the last of the magic circle to reveal their financial results for 2013-14, it’s high time to assess the relative fortunes of the UK’s leading firms.
As a group, the magic circle firms (excluding Slaughter and May, which does not reveal financial information) generated more than £5bn in revenue during the last financial year, a 4% rise on 2012-13. Clifford Chance’s (CC) revenue growth of 7%, up to a record peak of £1.36bn, was the highest of the group. Linklaters posted a 5% rise to £1.26bn, with more modest hikes of 1% and 2% for Freshfields and Allen & Overy (A&O), up to £1.23bn and £1.23bn respectively.
