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Denton Wilde Sapte has posted a 3.5 per cent rise on year-to-date revenue, with fee income rising from £84.7m in October 2008 to £87.7m at the half-year stage.
Revenue from the firm’s international offices was also up. Last year 29 per cent of the firm’s total turnover derived from outside the UK, but in the first six months of the 2009-10 financial year that had risen to 32 per cent.
The Middle East was the strongest performer, contributing 20 per cent, followed by Moscow and the firm’s CIS practice, which includes offices in Almaty and Tashkent.
Dentons’ chief executive Howard Morris (pictured) said he was pleased with the half-year results although he admitted the effects of the recession were still being felt in several offices and practice areas.
“It’s a very, very hard market and will remain so for some time,” Morris said. “There’s a lot of competitive pressure and a lot of pricing pressure, but I regard our results at the half year as encouraging.”
Morris added that the half year in 2008-09 had been good and that the UK legal market had not really “fallen off a cliff” until mid October.
“In that context I’m particularly pleased that we’re up this year,” Morris added.
The firm’s strongest-performing practice areas during the half year included banking, restructuring and insolvency and TMT, which Morris said was 25 per cent up.