Analysing and then explaining the performance of the LB100’s 26-50 bracket is far from straightforward. The monumental disruption of the last year would seem to mandate a slip in standards or market activity at least somewhere, but across the board, leaders seem almost embarrassed by their near-universally buoyant performances.
Three of the top ten fastest-growing firms by revenue are in the 26-50 category, with expansive listed firm Knights the fastest in the entire LB100, after growing by 39%. Granted, Knights has bolted on a number of new offices to inflate the increase, but the acquisitiveness is representative of a flourishing market. Average revenue for the bracket increased by a respectable 4% to £154.7m, while average revenue per lawyer (RPL) remained flat at £273,000.