Small firm profits fall in Scotland

Scottish law firms with five or fewer partners saw profits fall in 2013 while larger practices improved their profitability.

Scottish law firms with five or fewer partners saw profits fall in 2013 while larger practices improved their profitability. duchy

Profits per partner are still at just two-thirds of 2008 levels when they were £104,000 per head. Partners in firms with ten or more partners saw their profits rise 21 per cent in 2013 to £197,000. Profits per partner rose 30 per cent in firms with five partners rose to reach £98,900 per head. But partners in two-, three- and four-partner firms saw their per head profits fall 5 per cent to £64,000. Sole practitioners fell 11 per cent to £47,000. Source: BBC News

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