The 27 regional and national firms occupying the 51-100 spots in this year’s LB100 come in with an average of 267 lawyers and 27 equity partners. But despite weathering Covid well, with average revenue increases of 11% and 13% in 2020 and 2021 respectively, our 2022 report sees growth flatten out, with average revenue up just 4% to £54.9m.
Alongside static revenues, profit per lawyer (PPL) fell 5% with average lawyer numbers up 7%. Meanwhile, although firms managed to make profit per equity partner (PEP) gains — with the average up 14% to £402,000, outpacing last year’s already robust 8% hike — this is coupled with a 10% decrease in average equity partner numbers.
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