Lawyers Expect Higher Revenue After Two Years Of Decline

05.20.2011 ZF English

After two years when few law firms managed to keep growing, in 2011 all the firms that provided information on the revenue trend are expecting to at least stagnate, according to data collected in ZF's third edition of the Law Firm Yearbook.

2011 seems to be the year of a return to growth for most law firms on the domestic market, considering that few were those firms, which during recession found the resources to offset the declining fees by a rising volume of billable hours, which would secure further growth.

Among the firms answering the request on the trend of turnover in 2011, the most "downbeat" estimates are formulated by Tuca Zbarcea & Asociatii and Leaua & Asociatii, which did not budget any increases, while at the opposite end Biris Goran and Vilau & Mitel firms target a revenue increase of as much as 45% and 35%, respectively.

On the other hand, NNDKP, Popovici Nitu & Asociatii, Bostina or Schoenherr & Asociatii make up the "conservative" category, after having budgeted an increase of 10% at the highest for this year.