More than a third of the top 100 UK law firms have now released their FY15 results. So what's the story so far?
Well, total revenue so far is £9.11bn, up 4% on the FY14 total of £8.73bn. This is slightly down on the 5% increase those firms enjoyed on FY13.
There are some interesting variations by population though:
- International firm revenues are up 4%, down on the 5% increase they enjoyed last year
- London firm revenues are up 10%, significantly more than the 6% increase last year
- National and regional firms are performing the best - up 11% on the 6% rise of FY14
For more ideas and thinking visit www.thirteenideas.com
Who are you? What do you stand for? What’s your purpose? Who are you for? What’s your proposition? These are the critical questions facing law firms in today’s ultra-competitive marketplace. I help law firms uncover and articulate how they’re distinctive. I then help them tell their story internally and externally by saying what they do and doing what they say. This helps win work. It also strengthens client loyalty, streamlines decision-making, enhances collegiality and means time and money can be used more effectively. 90% of what one law firm does is the same as another. 10% is distinctive. Something distinctive exists within everyone – it just needs uncovering.