Technology is cited as a possible driver behind efficiency gains as an analysis of LLP accounts reveals the hidden strengths and weaknesses at the largest firms.
June 19, 2019 at 04:40 AM
1 minute read
Editor-In-Chief
The U.K.’s top law firms have improved their profit margin for the first time in years, as they continue to seek out efficiency gains amid a continued rise in staff costs.
An in-depth analysis of limited liability partnership (LLP) accounts for the 2017-18 financial year, carried out in conjunction with professional services firm Smith & Williamson, found the profit margin for the combined U.K. top 50 inched up 0.4% to reach 31%.
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