Half-year results reveal revenue hikes

A clutch of firms have unveiled half-year results that reveal a significant uptick at the mid-way point of the 2010-11 financial year.

Fladgate has posted ­revenue of £12.5m, a 9.3 per cent rise on the position last year, partly powered by increased activity in the firm’s property practice.

“Real estate has seen a consistent improvement in activity across all areas which, combined with the practices of joiners Richard Reuben and Kim McMurray [from Macfarlanes and Halliwells respectively], has resulted in a considerable increase in income for the firm’s property department,” said chief operating officer John Goreing.

He added that corporate continued to be “volatile”, with periods of intense activity mixed with quieter phases, while litigation activity slowed compared with last year. “These half-year results highlight the strength of our business and the investments made in our new premises and people,” said Goreing.

Fladgate is projecting a year-end turnover of £25.2m.

Another firm to post strong half-year results, Lewis Silkin, saw revenue increase by 9.6 per cent to £17.2m, while Morgan Cole’s property department, along with its corporate and commercial teams, is responsible for its 1 per cent rise in half-year revenue.

The firm posted £16.8m at the half-year point, but is projecting a slight fall in full-year turnover, from £36m to £35m.