Many firms are still feeling the effects of the recession. Profit per equity partner (PEP) – that disputed guide to law firm health – has been on the slide in a number of law firms. Whether it’s an erosion of market share or hefty capital expenditure, margins are under attack.
Profitability plummets at growing number of UK firms
Manches net profit drops to 10-year low of £2.15m, PEP down to £135k
Turnover falls to £48.7m at Dundas & Wilson, PEP down to £164k
PEP falls 15 per cent at Hill Dickinson while revenue rises
Wright Hassall announces drop in profitability but turnover rises