If you only read the stats, you would be forgiven for thinking that the LB100’s 26-50 group has struggled this year. The numbers are uncharacteristically grim for the second quartile: profit per lawyer (PPL) dipped 8% from £79,000 to £73,000 and profit per equity partner (PEP) dropped 3% to £633,000.
Revenue metrics are more favourable – average turnover grew a solid 8% to £167m from £154.7m, while revenue per lawyer (RPL) was up 6% from £273,000 to £290,000. However, this pales in comparison to the blistering growth of the LB100’s top 25, and is a far cry from last year’s eye-catching 19% hike in PEP among the 26-50 group.
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