For those concerned about margins.2H GM% Of ~34% and 1H of ~47%....

For those concerned about margins.

2H GM% Of ~34% and 1H of ~47%. Employee #'s remain stable suggesting lower profit/fte.

that is a function of what could be several things. Perhaps less productive (% of hours billable), perhaps harder to achieve budget (budget set as multiple of wages - but no timesheets model to give flexibility). My guess is a mix of the two between payrises above and beyond charge out rises, and turnover leading to more inexperienced lawyers (with the internal systems atleast).

i suspect this is very much a one off, as 34% gm% is very very low even amongst average firms.