Bloomberg Law
July 17, 2017, 1:46 PM UTC

Business is Booming for British Lawyers

Bloomberg Media

By Helen Chandler-Wilde, Bloomberg News

Profits per partner at U.K. law firms rose 8.5 percent to an average of just under 136,000 pounds ($178,000) in 2016 to the highest level in seven years.

The increase was fueled at least in part by law firm revenues that rose 5.8 percent, well above inflation, according to a survey of the industry by accountants at Hazlewoods.

Profits per partner have traditionally been considered a key indicator of law firm financial health.

The Hazlewoods survey comes a few weeks after London’s largest law firms, known as the Magic Circle, released their annual earnings. The ...

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