This is fantastic news for the legal profession. It will be interesting to see the analysis that surfaces to understand the losers in this growth.
It is interesting to note the lack of mergers in this period which drives an immediate view that work has been won from firms outside of the top 100.
The 100 largest law firms in the UK billed more than £20bn in fees last year – the largest revenue ever achieved by the group. In 2015/16 the top 100 firms in The Lawyer’s annual UK 200 report generated a total turnover of £20.13bn, a rise of 5 per cent on 2014/15’s £19.24bn. Over the past five years since 2011/12 the total value of The Lawyer top 100 has grown by 19.2 per cent, from £16.891bn.