Freshfields boosts revenues as confidence returns to deal sector

 
Elizabeth Fournier
MAGIC circle law firm Freshfields Bruckhaus Deringer has posted an impressive 7.2 per cent rise in revenues for 2012-13, while profits per partner also grew by more than seven per cent.

Total revenue at the firm was £1.22bn, up from £1.13bn the previous year, with net profit growing to £548m from £535m a year ago – a rise of 2.4 per cent. Profits per partner were £1.398m, 7.6 per cent higher than last year’s £1.299m.

“We feel that we are now very well-placed to provide the transactional, regulatory, contentious and risk management help our clients need, wherever in the world they want it,” said managing partner Ted Burke.

“We hope that, in the medium term, transactional activity will also increase as confidence in a sustained recovery in the global economy strengthens.”

The firm also released new data this morning showing that, in contrast to sluggish M&A markets worldwide, inward investment into Africa has tripled in the last 10 years to more than $182bn. The UK have led the charge, spending the most since 2003 and doubling the amount invested between 2011 and 2012.