Osborne Clarke, a prominent relations law firm, has seen a decline in its UK net profit along with a drop in the profit per equity partner (PEP) in the compared fiscal years 2022/23 to 2021/22. Despite showing an increase in the firm’s international revenue, PEP has slipped by almost 14%, declining to £687,000 from £796,000 for the respective financial years.
The firm’s international CEO commented on these numbers indicating that due to the tough market conditions persisting globally, more industry consolidation is ‘inevitable’. This comment pointedly highlights the industry’s struggles in these testing times and forecasts the changes that could follow in response to such conditions.
For more specific financial analysis and details on Osborne Clarke’s performance, you can read the original article here.