LawFuel – The Law Newswire – Read New Zealand Law Jobs Report – LegalWeek reports that the UK’s top firms are set for a record year of financial results on the back of double-digit hikes in revenue.
Early indications are that a group of the UK’s top firms will break the £1m average equity partner profits barrier, while firms including Clifford Chance (CC) and Nabarro have achieved rises of around 20%.
The biggest revenue rises so far have come from SJ Berwin and Ashurst, which are both set to increase billings by more than 20% to hit £191m and £275m respectively.
Other firms to secure double-digit revenue growth include Berwin Leighton Paisner, which has seen turnover rise by 16% from £145m to £168m, Denton Wilde Sapte, which has gone up by around 10%, and Pinsent Masons, which is expecting an increase of 10%-15%.
Freshfields Bruckhaus Deringer, Linklaters and Eversheds are also set for double-digit revenue growth.
The only major firms planning to announce single digit growth so far are CMS Cameron McKenna, with a 6% rise to £192m, and Lovells, with an 8% increase to around £425m.