Portugal’s top law firms show strong revenue growth in 2023
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Lisbon: Portugal’s legal market has showcased remarkable resilience and growth in 2023, as evidenced by the latest revenue figures of its top law firms, according to estimates from Iberian Lawyer and the research team of LC Publishing Group.
The total revenue for the leading firms has seen notable increases, reflecting a robust market and the rising demand for comprehensive legal services. This dynamic sector, driven by the increasing complexity of legal issues and the adoption of cutting-edge technologies, continues to expand, underscoring the adaptability and competitive spirit of Portuguese law firms.
The Portuguese legal market has shown impressive year-on-year growth, with the top 20 law firms collectively generating €582.00 million in 2023, up from €520.48 million in 2022. This increase underscores the sector’s resilience and dynamism, driven by both domestic demand and the expansion of international legal practices.
VdA (Vieira de Almeida & Associados) stands at the pinnacle of the rankings with an impressive revenue of €77.8 million in 2023, up from €75 million in 2022. This 3.73% growth reflects the firm’s strong foothold and extensive client base across various sectors, showcasing its comprehensive service offerings and strategic growth initiatives. Following closely, Morais Leitão reaching €72.61 million in 2023 from €65.5 million the previous year. The firm’s strong performance can be attributed to its diversified service offerings and strategic market positioning, demonstrating extensive expertise across various legal disciplines and a commitment to client service. PLMJ secures the third spot with a revenue of €61.52 million, marking a rise from €55.5 million in 2022. PLMJ’s consistent performance is driven by its robust corporate and M&A practices, reflecting its strong market position and client engagement strategies.