News Law firms Law firms braced for third year of stagnant financials By The Lawyer 1 May 2011 00:00 17 December 2015 15:05 Sign in or register to continue reading. It's FREE Sign in Email Password Keep me logged in Forgot your password? Not registered? It's FREE! Register now Register with The Lawyer Colin the clerk 3 May 2011 at 14:50 Because of the huge redundancies across the middle tier firms I would expect that many lawyers will be happy that their bumper pay packets will be back. At the top the flat revenues won’t stay forever, although some belt tightening could be called for. Reply Link Ashley Balls 5 May 2011 at 02:48 It is hardly surprising that profit is stagnant. The remorseless increase in lawyer numbers cannot continue to ignore the law of supply and demand forever. PEP figures are fast becoming a misleading indicator in firms where the ‘HR’ leverage model is being manipulated in favour of fewer owners. The smart way to measure profit is £s per lawyer. The current business model may have to adapt. Mayson, Susskind and others are well worth a read and are not all doom and gloom. Many of us consider their conclusions insightful. Reply Link Anonymous 5 May 2011 at 13:54 It’s how you spin your figures. Take one big North East firm, claiming to be back making money whilst in reality it’s hovering very close to being wound up by its bank. Reply Link Name Email Cancel reply Threaded commenting powered by interconnect/it code.