UK top 50 firms achieve sixth year of revenue growth as partner profits stall

Combined revenue for top 50 hits £18.2bn; eight largest firms bring in more than £10bn

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Despite the looming uncertainty of the European Union (EU) referendum and the resulting impact on deal markets, the UK’s 50 largest law firms achieved a sixth consecutive year of revenue growth in 2015-16, but translating this into bottom-line gains proved more difficult to achieve.

Together, the 50 firms brought in a total of £18.24bn, up from £17.45bn in 2014-15 – an increase of 4.5%. Only nine firms within the group saw revenue decline  – an improvement on the previous year when 12 firms saw fee income decrease, including five within the top 10.

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