London-founded law firm Linklaters on Tuesday reported its highest ever revenue and profits, citing in part an uptick in deal work.
Linklaters said it grew its revenue by 10% to a record high of 2.1 billion pounds ($2.69 billion) in its financial year ending April 30.
The revenue bump was in part buoyed by growth in the U.S. market, where Linklaters saw a 24% revenue increase.
The firm also reported a 10.3% increase over the last year in profit before tax to 942 million pounds ($1.21 billion). Profit per all partners jumped 7% to 1.8 million pounds ($2.30 million), and profit per equity partner increased 8% to 1.9 million pounds ($2.43 million).
Paul Lewis, Linklaters firmwide managing partner, said in a statement that M&A, restructurings, litigation and arbitration work, and projects linked to the energy transition were the largest growth drivers.
"With markets now bouncing back, particularly on the public M&A front, our teams have had a very busy start to the year," Lewis said.
Major UK law firms have prioritized U.S. growth in recent years.
Rival Allen & Overy merged with New York firm Shearman & Sterling in May. Other competitors, including Clifford Chance and Freshfields Bruckhaus Deringer, have expanded through new U.S. offices and partner hires.
Casey and the team are part of a cross-border group of Linklaters lawyers who are advising German automaker Volkswagen on its investment in U.S. electric-vehicle maker Rivian as part of a new, equally controlled joint venture to share EV architecture and software.
Linklaters has 31 offices globally, including in New York and Washington, D.C.
($1 = 0.7811 pounds)
