The full running order of The Lawyer’s guide to the 200 largest firms in the UK is revealed for the first time this week with the publication of the entire ranking.
It includes just four new firms, in contrast to the 16 additions in last year’s report, underlining the relatively low level of consolidation activity in the UK market last year.
The four new firms in the ranking are: Aaron & Partners, ranked joint 199th with Balfour & Manson; Vardags, ranked 193; Morrisons Solicitors, ranked 189; and Cavendish Legal Group, ranked joint 160th with Barlow Robbins.
Three firms make it into the Top 100 for the first time: Keystone Law, with a turnover of £26m, Moore Blatch on £24m and Knights, which saw its revenue rise by 60 per cent to £33m.
Because the ranking covers the 2016/17 financial year, firms that have only just merged, such as CMS, Nabarro and Olswang, appear separately.
The threshold for inclusion in the ranking rose from £8.5m to £8.7m while at the top end the largest firm, DLA Piper, saw its total turnover rise by 6 per cent from £1.59bn to £1.68bn.
The average revenue for firms in the Top 100 is now £219.8m, up from £201.3m in 2015/16 while the average revenue per lawyer in the top 100 is £305,000. The largest number of firms in this grouping have an average RPL of between £200,000 and £250,000.
The total revenue in this year’s top 200 was a record £23.46bn, a rise of 9 per cent on the previous year.