UK's top 100 law firms see profits soar above £6bn

The top 100 law firms in the UK saw revenue rise to over £20.8bn (Source: Getty Images)
Profits at the top 100 law firms in the UK have soared to well over £6bn in the latest financial year, with more than 1,000 partners now earning over £1m annually.
The top 100 law firms in the UK, comprising over 65,000 lawyers, saw revenue rise to over £20.8bn, up from £19.1bn in 2013, as profits rose above £6.3bn, up from £5.8bn last year.
The research, conducted by Legal Business magazine, found that the average top 100 UK law firm generates £208m in fees, with profit per lawyer of £98,000.
Legal Business editor in chief Alex Novarese said “A quarter of firms in the top 100 have been in acquisition mode or have completed transformative mergers within the last two years.”
However the report suggested more work needs to be done on gender equality, with women making up only 22 per cent of partners currently.

UK’S TOP 10 LARGEST LAW FIRMS BY TURNOVER

DLA Piper£1.57bnprofit margin 24%
Clifford Chance£1.36bnprofit margin 34%
Linklaters£1.26bnprofit margin 44%
Allen & Overy£1.23bnprofit margin 40%
Freshfields£1.23bnprofit margin 47%
Norton Rose£1.15bnprofit margin 36%
Hogan Lovells£1.10bnprofit margin 37%
Dentons£807.3mprofit margin 19%
Herbert Smith£800mprofit margin 29%
CMS£710.4mprofit margin 34%

Related articles