An absolute showwwer of cash for the equity partnersIt's been a bumper financial year for many City firms, with some announcing record profits. PEP has risen 9% to £2.3m, after partnership profits for 2025/26 rose by 11% to an eye-popping £1.05 billion. Fellow Magic Circle firm Linklaters has also reported record revenue and profit. The firm's pre-tax profit was also up by more than 11%, at £1.2bn, marking the third consecutive year of double-digit profit growth. The firm reported revenue of £1.8bn, with profit of around £634 million, and PEP at just over £1.52m.