Smooth road to recovery gifts revenue boost to Top 20

For UK managing partners, the end of April doesn’t just equal chocolate eggs and hot cross buns. It means year-end financial results, a thought that could push some back to the buttery bun cupboard.

But it doesn’t look like comfort eating will be necessary this spring. The Lawyer asked a range of UK top 20 firms for their year end revenue predictions and found that many have been on a steady road to recovery over the last twelve months.

Several firm managers are predicting a revenue rise of around 5 per cent. “It wasn’t a trophy year, it was an improvement,” said one senior partner. Another suggested that fee pressures remain as tough as ever, although there is more work available.

There’s always the odd exception – Slaughter and May has just recorded one of its busiest years to date, practice partner Paul Olney told us.

The financial forecast is sunny. Now step away from the bun cupboard.

Also on The Lawyer:

  • What impact is Lord Neuberger having in the Supreme Court? Dissent is waning under a regime that favours teamwork
  • Brown Rudnick has pulled offers from half of the associates set to join the firm in the autumn, a move that comes weeks after it announced plans to bolster its London IP team
  • French giant Fidal is focusing on building up its cross-border capabilities in a bid to change clients’ perception of the former accountancy-tied firm

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