LEGAL firms in Yorkshire have reported improved fortunes, says a survey by the Law Society.
Figures from its law management section’s annual profitability survey reported an average increase of 0.2% in practice fee income in 2010 following a fall of 6.5% in the previous year.
The survey, sponsored by Lloyds TSB Commercial, showed that 200 of firms polled spent more than £2.14m to recruit 1,022 people. The average spend on non-salary overheads per fee earner dropped to £35,551 from £41,959 in 2009.
The poll showed that median fee income per equity partner totalled £455,650 for 2010 against £469,666 in 2009. Median equity partner capital rose by 7% to £135,191. The median cost of a fee earner was £40,240 against £43,938 in 2009.