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U.K. Law Firm Revenue Increases ‘Modest’ 5%, Deloitte Says
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Britain’s 100 biggest law firms increased their quarterly revenue by an average of 5 percent amid continued “uncertainty” about the economy, according to a survey.
The “modest” boost was due to higher rates and more billable hours over the three-month period that ended July 31, compared with a year earlier, accounting firm Deloitte LLP said in a statement. The U.K.’s 10 biggest firms, including the top-five “Magic Circle” firms led by Clifford Chance LLP, had smaller average increases of 3.7 percent, Deloitte said.