UK law firms struggling with productivity

UK law firms struggling with productivity

UK law firms struggling with productivity

The FINANCIAL -- Nearly 200 firms took part in the NatWest Legal Benchmarking Report 2018, now its 6th year, produced with Robert Mowbray of legal consultancy Taylor Mowbray.

According to RBS, the report looks at the performance of law firms operating in the SME space across England, Wales and Scotland with revenues up to £67million.

Main findings from the research show that Profit Per Equity Partner (PEP) went down 10% with the average profit margin also falling from 23% to 22%.

The report highlights that although average fees are up 5% - materially outstripping inflation - the average profit per equity partner (PEP) now stands at £108,000 down from £120,000 last year.