BLP's revenues fall five per cent at half-year stage

Based on the fact that it made £84m for the same period last year, the firm should have made close to £80m this time round (14 November 2008).

Revenues in the tax and finance practices were ahead of where they were this time last year, while litigation was static and corporate and real estate dropped, according to the firm.

A spokesperson said: “Activity levels began to pick up in the second quarter. If we see that continue then we would expect [deal] volumes to increase during the second half relative to the first half.”

The spokesperson added that the firm’s Singapore office grew “strongly” as did its start-up operations in Abu Dhabi and Moscow.