Interpreting law firm results is more challenging this year than it has ever been. There are a number of reasons for this, including the increasing complexity of law firms both in terms of the variety of work they perform and their international footprints; the significant exchange rate fluctuations; and the fact that fewer results have been published as many firms have been less keen to publicise their figures than in previous years.
Analysing the results that have been published without adjusting them to take into account exchange rate movements can lead to conclusions that are, in some cases, fairly wide of the mark. How does performance look if exchange rate movements are factored in, and what are the implications for the large international UK law firms going forward?
