Linklaters’ profits rise to £557.3m

Law firm Linklaters saw its pre-tax profits increase in the latest financial year, up by 6.8 per cent to £557.3m.

The group’s income rose to £1.255bn in the year to the end of April, a rise of five per cent on last year’s figures, which were particularly strong, following the Magic Circle firm’s assistance of Glencore in its major merger deal with Xstrata.

Linklaters said that the boost in profit came despite the slowdown in mergers and acquisitions which marked the beginning of the financial year.

“Over the past year we’ve achieved a strong financial result, with all of our practice groups delivering a stable or improved performance.

“In particular, significant demand for our services has come from banks and financial investor clients, with transactional, contentious and non-contentious regulatory work, litigation and arbitration also being particularly active,” said Simon Davies, managing partner at Linklaters.

He added: “From a sector perspective we’ve seen strong activity in pharmaceuticals, real estate and infrastructure.”

The group announced seven new partners in April this year, as part of a wider round of promotions.