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Birmingham’s 5 Fountain Court is likely to find itself propelled into the upper echelons of the UK’s biggest-billing chambers this year after reporting a 21.3 per cent lift in turnover.
5 Fountain Court, the UK’s largest barristers’ chambers, notched up £21m for the last financial year, compared with £17.3m in the previous 12 months.
The results launch the set past its nearest rival, St Philips Chambers, which posted £18.3m gross, an increase of 7.6 per cent, for the last financial period. Both sets are similar sizes: St Philips has 142 tenants and 5 Fountain Court 150 barristers.
The upturn in turnover at 5 Fountain Court can be attributed partly to a groundswell of recruitment at the set over the past couple of years, which saw the mass hire of 24 new tenants over 2002-03, including silks Richard Jones QC and Tony Smith QC. In March this year, the set also swooped for five personal injury barristers from St Philips.
A new London annexe in 2003, coupled with the launch of an association with Madrid and Malaga firm De Cotta Mckenna & Santafe, has also contributed to the steep rise in income.