While this year’s LB100 has found transatlantic law firms experiencing slower revenue growth than their more tightly focused peers, an analysis of five years of data highlights how large-scale UK-US mergers are driving up profitability at a much steeper rate.
Continue reading “Transatlantic firms outstrip peers on five-year PEP growth, LB100 data reveals”
The UK’s 100 largest law firms increased profit per equity partner (PEP) by an average of 13% during the last financial year, with near across-the-board hikes coming despite the rising costs of associate salaries.
On the back of double-digit revenue growth for more than half of the LB100 during 2023-24, average PEP rose to £844,000 after profitability had remained effectively flat during 2022-23.
Profit per lawyer (PPL) was also up, from an average of £100,800 last year to £116,200 this year – an increase of over 15%.
