Linklaters has recorded double-digit growth for both pre-tax profits and profit per equity partner (PEP) in 2018-19, as the firm rebounds from last year's sluggish results.

Profit soared by 11.2% from £676.2 million to £751.6 million, while PEP grew by more than 10% – the biggest gain in over a decade – to £1.7 million.

The firm also reported a 7% increase in turnover, adding £105 million to its top line of £1.63 billion, outperforming Magic Circle rivals Freshfields and Clifford Chance in terms of growth.

The results mean that Linklaters has grown its turnover by 30% in the past five years.

It also shows a return to form for the Magic Circle firm, which last year recorded the first fall in PEP in a decade, alongside a slender 1.7% increase in pre-tax profits.

Linklaters is the third Magic Circle firm to report its results, following Clifford Chance and Freshfields earlier in the month, which reported 4.3% and 5% revenue growth respectively.

In a statement, Linklaters cited "fantastic" M&A mandates and strong growth across its restructuring and insolvency practice as being among the drivers for this year's success.

Speaking to Legal Week, Gideon Moore, Linklaters' managing partner, cited the firm's strong international performance: "Asia was strong – the tie-up with Zhao Sheng has been very well received both internally and by our clients.

"The U.S. is a difficult market, there's no way of getting around that, but I thought our U.S. team added more to our overall performance than any other year previously."

The firm announced plans to move its New York offices in April, which will be completed by 2021.

Moore also said the firm planned to grow its presence in Sao Paulo with the assistance of Gabriel Silva, who was made a partner at the firm in May.

Highlights this year for the firm include advising Linde on its mega-merger with Praxair, which created the largest industrial gas group in the world, with a market capitalisation of $90 billion. Linklaters also secured key advisory roles on the sale of Battersea Power Station to Malaysian investors Permodalan Nasional Berhad, and worked on the administration of House of Fraser and Debenhams.

Moore stated that the ramifications of Brexit and global tariff wars had caused the firm to be more vigilant, but that ultimately it was well placed.

"Our thoughts about trades are much more advanced than they have needed to be in the past. I think the fact there might be less east to west traffic probably means that it will be replaced by north-south traffic and we're well set up to handle that."

The year has not been without its setbacks, however. The firm lost a three-partner New York funds team to Debevoise & Plimpton in April and has been the subject of three email phishing scams since January.

It was also embroiled in a court battle in February with its former chief marketing officer, Frank Mellish, over documents purporting to detail the "ongoing struggle Linklaters has with women in the workplace".