Nationally-focused firms have delivered the poorest collective performance in the UK over the past 12 months, leading to speculation over what the next year will hold for them.The 2005-06 financial year was outstanding for regional and national players, with leading outfits in Birmingham and Manchester outperforming City rivals. However, as the economy took a dive, the weakest performances in Legal Week's most recent top 50 league table were notably those with a presence in the Midlands and the north. Mills & Reeve, Hill Dickinson, Cobbetts and Beachcroft all appeared at the bottom of the profits per equity partner ranking, with the latter suffering a 3.1% drop. Meanwhile, Halliwells, Hammonds, Dickinson Dees and Shoosmiths all scored poorly on profit growth, with Shoosmiths actually experiencing a 19.7% drop in profits.
September 10, 2008 at 10:33 PM
1 minute read
The original version of this story was published on Legalweek
National firms have suffered a major drop in profits over the last 12 months, particularly those without the protection of an international network. But it is not all bad news. As Claire Ruckin finds out, their smaller size might actually give them an advantage
Nationally-focused firms have delivered the poorest collective performance in the UK over the past 12 months, leading to speculation over what the next year will hold for them.
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