Law FirmsNews

Law firms hail ‘stronger than expected’ performance during pandemic

Following two years of decreases in equity partner profits, median net profit per equity partner increased by 39%

Solicitors have reported “solid” business performance for the first year of the pandemic, as 69% of firms reported year-on-year growth in fee income in 2020, with 40% seeing growth of more than 10%.

According to the Law Society of England and Wales Law Management Section Financial Benchmarking Survey, many firms performed well financially due to consistent demand during the pandemic, lower costs and support from government which helped to avoid job losses.

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