UK Firms Feel the Pinch

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The top 100 UK firms by revenue dropped saw profits decline by an average of 30% last year, according to a new report out from PricewaterhouseCoopers. The largest decline in income came in the second tier of firms, those listed at #11-25, where partner per partner profits were down by 28%. Firms in the “magic circle”, the top ten, had per partner profits ranging from 850,000 to 1.4 million pounds, which was still a 21% drop from last year.