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Law firms 'enjoy rise in fee income'

By Wesleyan

The biggest law firms in Britain took seven per cent more income through fees between the start of November and the end of January than they did in the same quarter a year ago, survey results reveal.

Deloitte's Quarterly Legal Sector Survey reveals this is the case for the top 100 legal firms in the UK, and many have achieved better results through consolidation, especially the firms in positions 51 to 100.

It is thought that some of the largest firms, of which many have foreign operations, are facing tougher conditions overseas.

Together with differing exchange rates, being involved in foreign markets has had an effect on their income, Deloitte says.

The firms outside the top 10 saw growth of four per cent on average, the survey found.

As there has been little change in the number of hours fee earners are typically charging for, the data suggests rates have increased.

Copyright Press Association 2015

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