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Law firms braced for third year of stagnant financials

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.

5-May-2011

2:48 am