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Biggest law firms see fee incomes rise

By Wesleyan

The biggest UK legal firms enjoyed an inflation-busting 6.7 per cent average fee income rise in the last three months of 2014-15, according to the latest figures.

The new Quarterly Legal Sector Survey showed that London-centric companies outperformed internationally-focused firms and ones primarily dealing with British clients outside of the capital.

Deloitte said the average hike for the UK's biggest 100 law companies overall was 6.3 per cent over the year.

The professional services business suggested that imaginative recruiting and mergers helped swell fee earner figures.

These were behind around 66 per cent of the fee income rises.

The remainder was achieved via a hike in rates recovered and chargeable hours.

Deloitte partner Jeremy Black said that the new figures showed the 6.3 per cent expansion level disguised a fluctuating performance across the country's legal practices.

Mr Black said that London-focused companies were generally the best-performing firms in the UK.

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