Even for rapidly globalising law firms, the market remains challenging, it seems. Financial results for K&L Gates show the US law firm continuing to expand its global footprint in 2013, unveiling a 9.3% hike in revenues to hit $1.16bn, but also struggling to improve profitability for the second year in a row.
The growth is largely due to the Pittsburgh-bred firm’s takeover at the beginning of 2013 of Australian mid-tier Middletons and the launch of offices in Houston, Seoul and Wilmington.
