LAWFUEL – The Law News Wire – Clifford Chance announces its financial results for the year ended 30 April 2007
Clifford Chance today announced that revenues increased by 16% to £1,194 million (2006: £1,029 million) for the financial year ended 30 April 2007. Excluding the effect of exchange rate changes, underlying growth was 18%.
Average profit per equity partner was over £1 million for the first time, at £1,015,000 (2006: £814,000), an increase of 25% in the year.
In US Dollars, revenues amount to $2.4 billion (2006: $1.9 billion) and average profit per equity partner is $2.0 million (2006: $1.5 million).
These figures are provisional and will be finalised in July once they have been audited.
Managing partner David Childs commented:
‘We have achieved strong growth in revenues and a sustained improvement in our profitability. This progress is true testament to the hard work and high calibre of our people everywhere in our network and the strength of our client relationships. Each of our regions in Asia, Europe and the Americas has performed extremely well and, given current market conditions, we are well positioned to achieve future growth.’