At first glance, performance appears to have improved significantly in 2018, with higher fee income growth across the sector relative to 2017. However, ongoing challenges in UK law firm performance remain evident as increased fee income has not necessarily translated to overall profit improvement.
With Brexit on the horizon the continuing uncertain environment remains challenging for the UK legal sector. Despite many of the larger firms having Brexit committees in place to deal with the changes, 85% of all firms identified Brexit is a key challenge between now and 2020.
Senior manager, Assurance, Law Firms Advisory Group, PwC United Kingdom
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