Legal Business

Financial results round-up: Freshfields tops UK elite firms

Magic Circle firm shines with 7% revenue spike in flat market

Freshfields Bruckhaus Deringer has led the Magic Circle for 2012/13 financial results in a year that has seen the UK’s elite turn out flat annual turnover and profits, while many of the UK’s top 50 reveal spikes in revenue largely generated by international expansion.

Freshfields has revealed a 7% revenue increase from £1.139bn to £1.22bn, with profit per equity partner (PEP) rising by 11% to £1,439,000.

Headline deals for the firm have included its role advising the government on the long-running IPO of Royal Mail, and advising Betfair on CVC Capital Partners’ £910m takeover bid. For Q1 of 2013, Freshfields was ranked by mergermarket in third place for global M&A behind US firms Davis Polk & Wardwell and Wachtell, Lipton, Rosen & Katz, and second for global buyouts behind Kirkland & Ellis.