The U.K.'s top law firms have managed a major rebound in profitability this year despite the aftermath of the global recession handing the group its first collective fall in revenues in recent memory. Across the top 50 firms, revenues fell from 12.33 billion pounds in 2009 to 11.87 billion pounds. However, the impact of an unprecedented round of pay freezes, job cuts and partnership restructurings allowed the firms to achieve an average rise in profits per equity partner of 8.8 percent.
July 16, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The U.K.’s top law firms have managed a major rebound in profitability this year despite the aftermath of the global recession handing the group its first collective fall in revenues in recent memory.
Legal Week‘s 2009-10 results, the first comprehensive picture of the performance of the U.K.’s top 50 law firms, shows revenues across the group fell by 461 million pounds, from 12.33 billion pounds in 2009 to 11.87 billion pounds.
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