The difference in size between the largest and smallest firms in the UK 200 has widened by almost 6 per cent year-on-year, new research by The Lawyer reveals.
Data in the upcoming UK 200 Independents report, released on Monday (9 October) shows that the gap between the top and the bottom of the UK 200 is almost as much as DLA Piper’s annual turnover.
The UK’s biggest firms are growing more rapidly than its smallest firms; DLA, Allen & Overy and Clifford Chance are now all bigger individually than the 100 Independents combined.
Analysis shows that in 2015/16 the difference in size between top-ranked DLA and 200th-ranked Balfour & Manson was £1.578bn.
Last year this gap increased by 5.6 per cent to £1.667bn, which is more than DLA’s 2015/16 turnover and just shy of its £1.675bn revenue in the last financial year.
Meanwhile the difference between the revenue of the largest independent firm, ranked 101st in the UK 200, and Balfour & Manson widened by 12.5 per cent from £13.6m in 2015/16 to £15.3m last year.
While the Scottish firm’s ranking of 200th was unchanged, Geldards dropped down into 101st place despite a turnover increase, thanks to stronger performances by other firms.