LAWFUEL – Clifford Chance today announced a record year for revenues and profitability. Revenues increased by 11% to £1,329 million for the financial year ended 30 April 2008 (2007: £1,194 million). Profit per equity partner grew by 13% to £1,151,000 (2007: £1,023,000).
In US Dollars, revenues amounted to $2,618 million (2007: $2,388 million) and profit per equity partner was $2,267,000 (2007: $2,046,000).
These figures are provisional. Audited figures will be published in September.
Managing partner David Childs commented:
‘Revenue and profitability grew significantly even though market conditions were more difficult in the second half of the year.
‘Growth was particularly strong in Asia, the Middle East and central and eastern Europe, and we continue to invest in these regions, as evidenced by opening new offices in Abu Dhabi and Kiev this year.
‘The firm’s outstanding progress is a testament to the hard work, teamwork and commitment of our people. I am confident that the firm is well positioned for the less favourable market conditions that we are likely to face during the current financial year.’