Clyde & Co turnover up 10 per cent at half-year

Clyde & Co has posted double-digit growth in its revenue during the first six months of this financial year, with fee income increasing 10 per cent.


<a class=Clyde & Co turnover up 10 per cent at half-year” />Clyde & Co has posted an initial double-digit growth in its revenues during the first six months of this financial year, with fee income increasing 10 per cent.

The figures, though not yet finalised, will see Clydes half-year revenues hit £83.6m compared to £76m at the same point last year.

Chief executive Peter Hasson said the growth was within Clydes’ budget range, with the majority coming from outside the UK.

Hasson said: “The UK has stayed fairly flat with corporate and property down but litigation and other contentious areas going up.

“As with other firms we hadn’t anticipated the speed at which corporate would fall off but other practice areas were within normal budget ranges or above.”

Hasson continued that, of the firm’s overseas jurisdictions, the Middle East, US and Latin America that did particularly well, though the firm’s continental European and Asian offices also preformed strongly.

As The Lawyer’s UK 200 Annual Report revealed, at the end of the 2007-8 financial year Clydes recorded turnover of £157m – a 17 per cent increase on the previous year’s performance of £130m.