The Lawyer’s preliminary findings of chambers’ turnovers for 2002-03 show that Brick Court is once again leading the field with another 25 per cent hike to £38.75m.
Having claimed top spot last year with a 25 per cent rise to £31m, the set has once again outstripped the growth of its rivals. Brick Court attributes its success to the launch of the Competition Appeals Tribunal and a growth in Office of Fair Trading investigations.
Essex Court Chambers’ turnover was just over £29m, a 10 per cent increase for the second year in a row, while One Essex Court’s turnover remained static for the second year at £26m.
Matrix Chambers looks set to enter The Lawyer’s Bar Top 30 of chambers ranked by revenue for the first time, with a figure for the latest financial year of £8.8m, a 21 per cent increase on 2001-02, when its turnover surged by 24 per cent.
7 King’s Bench Walk posted a respectable 14 per cent increase from £16.25m to £18.5m due to a steady stream of film finance work and a heavy involvement in Barings.
Wilberforce Chambers posted an 11 per cent hike to £18.7m. The set exceeded its target of increasing by 5 per cent the revenues of two thirds of its juniors.
3 Verulam Buildings made a 10 per cent growth to £17.5m, which it attributed to the appointment of six members to silk in the past two years, and juniors bringing in more work that needs the assistance of senior counsel. Turnover at Birmingham mega-set St Philips Chambers rose to £17m, largely as a result of its merger with local criminal set 1 Fountain Court, which added an estimated £2.5m to revenues.