David Snell, head of the PwC law firms advisory group, said: 'We see evidence of some recovery in the financial performance of law firms and a degree of confidence is returning to the sector as a whole.' Profits per equity partner have risen in 'all segments of the market' with one exception - firms in the Top 25-50 section. The 25-50 sector also lags behind in relation to chargeable hours. Mr Snell said: 'Average chargeable hours are also up by between 1.9 per cent and 8.7 per cent across the sector, with the Top 26-50 firms once again showing the weakest performance.' Source: PwC
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