Linklaters accounts show headcount drop while revenues dip 1%
The average number of members in Linklaters' LLP dropped 6% in 2012-13, while the number of practising lawyers fell 2% and business services staff and secretary headcount dipped 3%. Accounts filed at Companies House show that the average number of members at the magic circle firm fell by 19 over the year to 291, while lawyer headcount was cut from 2,341 to 2,290 over the year. Business support staff and secretaries now total 4,280, 113 down from the 2011-12 figure of 2,052.
December 02, 2013 at 09:51 AM
2 minute read
The average number of members in Linklaters' LLP dropped 6% in 2012-13, while the number of practising lawyers fell 2% and business services staff and secretary headcount dipped 3%.
Accounts filed at Companies House show that the average number of members at the magic circle firm fell by 19 over the year to 291, while lawyer headcount was cut from 2,341 to 2,290 over the year. Business support staff and secretaries now total 4,280, 113 down from the 2011-12 figure of 2,052.
As a result of the headcount reduction, overall staff costs fell by just shy of 1% to £566m.
The audited financial figures also reveal that the firm's revenue was down 1% in 2012-13, despite the firm reporting an increase in the summer.
The accounts show magic circle firm's 2012-13 revenue stood at £1.193bn, a 0.9% decrease from the 2011-12 figure of £1.204bn.
In July Linklaters said its revenue on a like-for-like basis was up 1% to £1.195bn compared with 2011-12′s figure of £1.184bn – which had been revised after the firm decided to exclude revenues derived from its alliances with Brazil's Lefosse Advogados and Singapore's Allen & Gledhill – both of which ended during 2012-13.
In a statement the firm said: ""In our the press release in July we excluded from the year's revenue certain associated firms where our arrangements with them had changed and adjusted the comparatives to be consistent. There is no such adjustment in the LLP accounts."
While the firm lost £6.2m last year due to exchange differences from its overseas offices this year it saw an upswing of £3.7m.
The firm's operating profit for the year stood at £371m, a 3.4% dip from the 2011-12 value of £383m.
The accounts also show that the top-earning partner at Linklaters took home £200,000 less than last year when they received £2.5m.
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