Photo: Shutterstock Pa. Firms Lagged in Revenue, but Led in Expense Reductions
Demand was weaker in Pennsylvania last year, Citi Private Bank's law firm advisory group found in its year-end survey.
February 16, 2021 at 01:44 PM
3 minute read
In a year when the average U.S. law firm was pleasantly surprised by strong revenue growth and remarkable profitability, a recent survey of 2020 financial results shows sluggish revenue growth in the Pennsylvania legal industry, but strong profits that were largely driven by the expense reduction that came with a shift to virtual operations.
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