Scottish firms still struggling in a difficult market
A new report from management consultants PwC has observed that Scottish Law firms are still struggling under difficult market conditions and regulatory changes, with turnover remaining flat, a reduction in the number of full equity partners and support staff.
The report found that significant surplus capacity in the market in 2011 gave rise to pricing pressures.
Mike McCusker, partner at PwC in Scotland said: "Despite their many challenges, Scottish law firms remain optimistic about future revenue growth with 78% of all forms participating in the survey predicting increases in the level of profit per equity partner in 2012.
"The challenge for firms is to make this optimism a reality by achieving real sustainable growth in both turnover and profitability."
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