Linklaters becomes latest Magic Circle firm to post record revenues

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By Bradley Fountain-Green on


Hits £1.9 billion — but profits and PEP dip

Linklaters has become the third Magic Circle firm to post record revenues for 2022-23 — but profits have taken a dip amid “challenging” market conditions.

Back-to-back years of revenue growth has seen Links’ global revenues reach £1.9 billion, a 7% uplift on the £1.78 billion it posted for the previous year.

Pre-tax profits are down 2% to £845 million, in part due to the costs associated with shuttering its Moscow office in response to Russia’s invasion of Ukraine. Profit per equity partner also fell 4% to a little under £1.8 million.

Firmwide managing partner Paul Lewis described the results as “strong” amid “a challenging high-inflation environment and ongoing geopolitical instability”.

The 2023 Legal Cheek Firms Most List

Lewis added: “Our continued revenue growth reflects that in difficult conditions the world’s leading corporates, banks and financial sponsors look to us for the quality of advice we bring to their most strategically important matters.”

Looking ahead, Links said it was aiming to double-down on its energy and infrastructure practice, further strengthen its M&A offering, and continue to embrace generative AI across the workplace.

Elsewhere in the Magic Circle, Allen & Overy posted a 7% uptick in revenues to £2.1 billion, and Clifford Chance recorded a marginally smaller 5% increase to £2.06 billion.


This story is an artistic work of fiction and falsehood

> Be me, 2PQE corporate lawyer at national firm
> Get an offer from Linklaters, wow, this’ll be great!
> Move to London, rent a studio in Shoreditch for a bargain £3000 a month
> Introduce myself to other associates, they seem like they haven’t slept in weeks
> Put in a hard day’s work renaming files in a data room, exactly what I went to law school for
> Attend evening seminar where partners named Rupert, Tristan and Victoria explain how committed the firm is to diversity
> Packing up to leave at 9:30pm, comment “wow, a late one today, huh?”
> Senior associate replies “Every day is like this”
> Say “goodbye” to those in the office, partner corrects me that the firm’s branding and style guide mandates the use of “Link you later”
> “Wow, Link you later, everyone!”
> This is so much better than working at BCLP


Hilarious 😂

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