Profit growth at the Australian branch of Herbert Smith Freehills Kramer was just one quarter of what the global giant had predicted for 2026, in a year of poorer-than-expected productivity and smaller salary increases, leaked data from the top-tier law firm shows.
The firm’s local revenue was up only 5 per cent, while profit grew just 1.5 per cent – well below the expected 6 per cent – and lawyers undershot their billing targets, according to speakers at an internal meeting held to discuss the firm’s 2025-2026 performance.
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