29 October 2012 at 12:32 BST

Overseas work boosts UK top ten law firms

A survey by Pricewaterhouse Coopers points to overseas earnings as the main driver for growth for top UK law firms.

Indonesia growth potential

The UK’s top ten law firms have increased their market share with overseas work, according to a report released by consultancy firm Pricewaterhouse Coopers.According to the research, international growth will continue, with half of the top ten firms expected to acquire overseas law firms in the next three years.

The report says that Indonesia, Korea, Africa and South America are the areas expected to provide the most return for these firms which are already seeing around 40 per cent of their revenue coming from overseas.

Meanwhile the research pointed out that partner profits have suffered with an overall 22 per cent drop since 2008 to £2.5 million if inflation is excluded but reported that  2012 had seen a moderate growth in international revenue and profits with firms increasing fees and tightly managing fee earner headcount.



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