New Zealand Law Society - Legal services revenue nears $3.5 billion

Legal services revenue nears $3.5 billion

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Income from legal services totalled $3.464 billion in the year to 30 June 2017, according to provisional information released by Statistics New Zealand.

The information, from the Annual Enterprises Survey, shows this was up by 4.6% from the previous year.

Total expenditure was estimated at $2.002 billion of which $1.042 billion (52%) was salaries and wages paid. The salary and wage expenditure was up 6.5% from the previous year.

Statistics New Zealand estimates the total before-tax profit for legal services at $1.211 billion - up 8.2% on the previous year.

Legal Services Annual Enterprise Survey ($ million) (provisional)

Measure 2017 2016 2015
Total Income 3,464 3,311 3,059
       
Interest and dividends 30 36 35
Indirect taxes 7 8 7
Depreciation 48 46 45
Salaries and wages 1,261 1,184 1,042
Purchases and operating expenses 864 896 827
Non-operating expenses 28 22 46
Total expenditure 2,259 2,193 2,002
       
Opening stocks 38 47 53
Closing stocks 44 48 39
       
Surplus before tax 1,211 1,120 1,044
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