Clifford Chance celebrates a record breaking year, with revenues reaching a new high

Hayley Kirton
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Despite Brexit uncertainty, Clifford Chance has delivered results worth celebrating (Source: Getty)

Clifford Chance has a reason to crack open the champagne this afternoon, after the magic circle outfit revealed its highest levels of revenues for a financial year yet.

The figures

The law firm announced revenues for its years to April of £1.39bn, up three per cent on the year before.

Meanwhile partnership profit hit £494m and profit per equity partner was £1.2m, an increase for both of 10 per cent on the previous financial year.

The firm also enjoyed particularly strong growth in the Americas, where revenue was up 13 per cent.

However, revenue was not so wonderful for the firm in Continental Europe. In this geographical market, which accounts for a third (33 per cent) of the firm's overall takings, revenue slipped by four per cent.

Why it's important

Highlights of the year for the firm include advising key Anheuser-Busch InBev shareholders on the company's megabrew deal with SAB Miller, advising Sainsbury's on its bid for Home Retail Group and representing Citi in its successful defence against Terra Firma in the EMI lawsuit.

What Clifford Chance said

"The core purpose of our firm is to help clients navigate their most complex and business-critical challenges, using our expertise across geographies, practices and sectors to secure successful outcomes," said Matthew Layton, Clifford Chance managing partner. "The UK's decision to leave the EU makes this advice and support all the more valuable.

"The referendum presages a period of further volatility and ambiguity for organisations that were already facing significant uncertainties driven by political change and social dislocation around the world. Clients are now – more than ever – confronted with complex challenges that defy neat classifications and are in need of solutions and guidance that draws on a comprehensive understanding of the relevant issues from Brussels to Beijing."

In short

Notable high-profile projects have helped to drive up the firm's bottom line, while the legal eagles seem to be viewing Brexit as an opportunity to work with clients more closely rather than a reason to panic.

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