Washington law firms are reporting increased profits and revenues despite still experiencing difficult trading conditions.  According to the Washington Post, seven of the 10 largest firms reported a rise between one and ten percent in profits per partner and six of the 10 saw overall revenue grow  between two and 14 per cent.  
WilmerHale topped the scale for profits per partner with $1.46 million with Arnold & Porter coming in at $1.4 million followed by Covington & Burling in figures released by the American Lawyer magazine.  Hogan Lovells was the only firm to report a drop in profits per partner , down eight per cent from $1.2 to $1.1 million.

Gradual recovery

Kent Gardiner, chairman of Crowell & Moring,  told the Washington Post that he expected market conditions to remain the same this year as the economic recovery was ‘gradual’ and meant ‘continued pressures on pricing and productivity.’