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Law firms: in rude health?
In collaboration with Law.com, we have analysed the latest set of filed accounts for the top 50 UK law firms for the year 2022-23 and the UK legal market appears to be in rude health. They reveal revenue for the top 50 firms was just under £24 billion, up 8.54% on the previous year. It was only in 2020/21 that the top 50 broke through the £20 billion barrier.
Top 50 accounts analysis 2022-2023
This year we have built a new interactive dashboard to see how your firm compares to the top 50. Please fill our your details using the button below and a member of the team will be in touch shortly to benchmark your firm against the top 50
See last year’s Top 50 analysis (2021-2022)
Related content
Top 50 LLP accounts: revenue or profit?
Whilst the revenue for the top 50 firms was just under £24 billion this year, inflation peaked at over 11% during the year. So, does growth of 8.54% actually mean that UK law firms have merely stood still?
Top 50 LLP accounts: reasons for growth
From this year’s accounts, it’s clear to see that firms have struggled to pass on increases in their cost base to clients. Rising costs in salaries and energy were also joined by increased expenditure in IT.
Top 50 LLP accounts: profiting from growth?
From this year’s analysis we can see that firms are less efficient at converting every £1 of revenue into profit and there has been a significant impact on the cash held by firms. So could this impact the ability of the top 50 to invest in their futures?