Can U.K. Firms Match American Firms' Financial Results?
British firms are about to report their financials for the fiscal year that closed on April 30. Expect a post-Brexit bump—in part because a weak pound sterling will inflate overseas revenue.
June 02, 2017 at 11:00 AM
12 minute read
Sterling Results
The Am Law 100 has been published; now it is time for the Brits to show their hands. The fiscal year for most U.K.-based law firms ended on April 30. Their financial results, many of which will be announced in the weeks to come, will begin to reveal the true impact of Brexit on the country's legal industry.
While the United Kingdom's shocking decision to leave the European Union led to an initial flurry of advisory work, that short-term fillip was offset by a broader slowdown, particularly in transactional activity. Yet law firms are likely to post gains, primarily because of Brexit-related currency fluctuations.
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