Law firm profits increased in 2012, K&L Gates posts detailed financial report

K&L Gates seeks to increase transparency of financial reporting

U.S. law firms saw an increase in revenue and profits in 2012, according to an early look by Thomson Reuters at a survey by The American Lawyer. Forty-five out of 200 law firms surveyed have reported financials so far, and that data shows that the average revenue increase for firms was 6 percent, compared with 4.4 percent in 2011.

Bracewell & Giuliani in Houston saw the most growth in 2012, with a 42.2 percent increase in profits per partner, and Shook Hardy & Bacon in Kansas City saw the largest decline—a 16 percent decrease in profits per partner.

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