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Law Update: Partners in profit

The partners at Slaughter and May each generate profits of nearly pounds 350,000, making them the most profitable in the country, according to figures published by Datamonitor and quoted in Solicitors' Journal. Next in the list comes Ashurst Morris Crisp, followed by Allen & Overy. London-based practices are the most profitable, generating an average fee income of nearly pounds 7m, followed by the Midlands, with an average income of pounds 2.3m. Firms in the South-West are the least profitable, although East Anglia has the least profitable partners.