The UK’s Legal industry generated revenues of £2.79bn in June 2020. Whilst 3.6% down on June last year, that month was the highest billing June on record. June 2020 was the third best June in history for the UK’s legal industry, according to Office of National Statistics data released on 12th August.
Month on month, June 2020 saw revenues grow 19.5% since May 2020, but as May is traditionally the weakest month of the year for the Legal profession, the year on year comparison is more telling.
Louis Young, MD at Augusta said: “June’s revenue data shows the green shoots of recovery are now here for the UK’s legal industry. Firms will welcome this news, having been hit hard by the pandemic. Many will however take time to recover, having geared up for a record year in 2020. Leaders continue to look for options to manage costs and enhance their balance sheets, whilst planning for an improvement in trading conditions in Q3”.
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About the ONS Data
- ONS Monthly Business Survey data shows Legal Activities revenue as £2.79bn in June 2020 compared to £2.33bn in May 2020 and £2.89bn in June 2019.
- The overall Services sector (including Legal) grew by 24.5% since May 2020.
