Fewer top law firms reporting revenue growth - PwC
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Following last year’s record number of firms reporting revenue growth, market challenges have caused growth to slow across the UK’s top 100 firms in 2016, according to PwC’s 25th annual Law Firms’ Survey.
Seventy-five per cent of the top 100 UK law firms reported revenue growth this year, down from 82 per cent in 2015.
The 2016 Law Firms’ Survey identifies that UK law firms have been particularly successful in expanding on an international scale to meet client need. The challenge for UK top tier firms to match US performance in terms of fee income and profit growth continues. While this growth has been flat for the UK, rates of 2.9 per cent and 3.2 per cent respectively, have been reported for US counterparts.
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