It’s pretty difficult to be optimistic in such miserable weather but law firms’ half-year results appear to be offering a ray of sunshine.
As Lawyer2B.com’s sister website TheLawyer.com reported yesterday (10 November) DLA Piper is among a slew of firms to post first-half revenue hikes.
DLA Piper International, the UK and EMEA arm of the business, posted income of £280m, an 8.5 per cent increase from the £258m it made during the comparable period last year.
Meanwhile, Herbert Smith said that revenues have increased by around three per cent on the first six months of last year, although the firm has not released revenue figures.
Other top 10 firms to post results so far include magic circle law firm Allen & Overy, which saw income grow by three per cent to £526m (8 November 2010) and Norton Rose, which expanded by nine per cent to £155m (9 November 2010).
Outside of the top 10 Pinsent Masons is the latest firm to announce its results. The national firm has grown slightly, bringing in £98.3m compared with £97.8m last year – a 0.5 per cent increase. Further down the pecking order DWF recorded a 12 per cent jump in fee income after bringing in £36m.
The largest percentage rise so far is from Barlow Lyde & Gilbert (BLG), which grew fee income by 17 per cent to £44.5m. Earlier this year BLG took a 17-partner team from Halliwells after the Manchester law firm collapsed (21 July 2010).
The only firm to have shrunk fee income so far is Olswang, whose figure decreased by two per cent.
For all the latest law firms’ financial results keep on eye on both Lawyer2B.com and TheLawyer.com.