Addleshaws’ fee income takes 14 per cent hit
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Addleshaw Goddard has announced a 14 per cent drop in fee income for the first six months of the 2009-10 financial year.
The firm brought in £81.3m compared with £94.7m during the first six months of 2008-09.
Managing partner Paul Devitt said: “We said that the first two quarters of this year would be tough for us, and they were. Income 14 per cent down on the first half of last year, even though that was a strong period, is disappointing.”
The largest division by fee income was contentious and commercial, which made £30.5m, a slight increase on the £29m it notched up during the corresponding period last year.
However, finance and projects, real estate and corporate all shrunk. Finance and projects made £18.7m (down from £22m in the first half of 2008-09), real estate £17.3m (down from £23.5m) and corporate £13.5m (down from £18.9m).
