In the face of sliding credit markets and fewer corporate deals, England’s top firms still saw revenue growth in the first quarter of 2008, according to a report released Sept. 1 by Deloitte Touche Tohmatsu.
Deloitte’s Quarterly Legal Sector Survey said that the top 10 U.K. firms showed particular resilience during the quarter ending July 31, 2008, when they enjoyed 11.1 percent growth; the top 100 firms saw a reported 6.3 percent growth. (A recent study by Citi Private Bank found that revenue growth for 175 U.S. firms was just 4.8 percent.) But the slowing legal economy is hitting all the firms across the pond. While annual revenue is up for British firms, the rate of growth slipped from last quarter, when the top 100 firms reported 12 percent growth. Overall, the study found that the strongest firms were staying afloat through overseas work in the Middle East, Asia and Russia.
